Mary Clara Capel Sells 1,015 Shares of First Bancorp (NASDAQ:FBNC) Stock

First Bancorp (NASDAQ:FBNC) Director Mary Clara Capel sold 1,015 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $30.05, for a total transaction of $30,500.75. Following the completion of the sale, the director now owns 11,569 shares in the company, valued at approximately $347,648.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

First Bancorp Price Performance

FBNC opened at $31.92 on Monday. First Bancorp has a 1 year low of $26.00 and a 1 year high of $38.51. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.52 and a beta of 1.02. The firm’s fifty day moving average price is $31.39 and its two-hundred day moving average price is $33.69.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.03). First Bancorp had a return on equity of 8.62% and a net margin of 20.58%. The firm had revenue of $92.17 million for the quarter, compared to analysts’ expectations of $96.12 million. As a group, analysts anticipate that First Bancorp will post 2.5 earnings per share for the current fiscal year.

First Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Sunday, June 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, June 28th. First Bancorp’s payout ratio is 31.77%.

Analysts Set New Price Targets

Separately, StockNews.com lowered First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 25th.

Institutional Trading of First Bancorp

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in shares of First Bancorp by 6.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,848,591 shares of the financial services provider’s stock valued at $68,418,000 after purchasing an additional 112,422 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in First Bancorp by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 400,597 shares of the financial services provider’s stock valued at $11,273,000 after buying an additional 18,567 shares during the period. Wagner Wealth Management LLC purchased a new stake in First Bancorp during the fourth quarter worth about $240,000. Everence Capital Management Inc. bought a new stake in First Bancorp in the fourth quarter worth about $213,000. Finally, Victory Capital Management Inc. raised its position in First Bancorp by 2.7% in the fourth quarter. Victory Capital Management Inc. now owns 556,187 shares of the financial services provider’s stock worth $20,584,000 after acquiring an additional 14,710 shares during the period. 68.36% of the stock is currently owned by institutional investors.

First Bancorp Company Profile

First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts.