First Bancorp (NASDAQ:FBNC) CEO Richard H. Moore purchased 2,755 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was acquired at an average cost of $36.00 per share, with a total value of $99,180.00. Following the completion of the acquisition, the chief executive officer now directly owns 121,741 shares in the company, valued at approximately $4,382,676. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
First Bancorp (FBNC) traded up $0.17 during trading hours on Friday, reaching $36.97. The company had a trading volume of 75,770 shares, compared to its average volume of 130,344. The firm has a market capitalization of $1,090.90, a P/E ratio of 21.49, a P/E/G ratio of 1.19 and a beta of 1.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.78. First Bancorp has a 12-month low of $26.47 and a 12-month high of $41.76.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Sunday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. First Bancorp’s payout ratio is currently 18.60%.
A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in First Bancorp by 4.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,294,316 shares of the financial services provider’s stock worth $44,537,000 after purchasing an additional 59,041 shares during the period. Vanguard Group Inc. boosted its position in shares of First Bancorp by 24.8% in the second quarter. Vanguard Group Inc. now owns 1,000,939 shares of the financial services provider’s stock valued at $31,290,000 after acquiring an additional 198,866 shares during the period. Macquarie Group Ltd. boosted its position in shares of First Bancorp by 30.4% in the third quarter. Macquarie Group Ltd. now owns 619,044 shares of the financial services provider’s stock valued at $21,301,000 after acquiring an additional 144,201 shares during the period. Banc Funds Co. LLC boosted its position in shares of First Bancorp by 18.5% in the second quarter. Banc Funds Co. LLC now owns 592,556 shares of the financial services provider’s stock valued at $18,523,000 after acquiring an additional 92,392 shares during the period. Finally, State Street Corp boosted its position in shares of First Bancorp by 27.9% in the second quarter. State Street Corp now owns 461,813 shares of the financial services provider’s stock valued at $14,436,000 after acquiring an additional 100,632 shares during the period. 56.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on FBNC shares. Piper Jaffray Companies reissued an “overweight” rating and issued a $37.00 price target on shares of First Bancorp in a report on Thursday, October 5th. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, October 5th. Brean Capital boosted their price objective on First Bancorp from $39.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Stephens assumed coverage on First Bancorp in a report on Monday, December 4th. They issued an “equal weight” rating on the stock. Finally, BidaskClub downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $39.50.
First Bancorp Company Profile
First Bancorp is the bank holding company for First Bank (the Bank). The Company’s principal activity is the ownership and operation of First Bank. The Bank engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Bank offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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