GSA Capital Partners LLP cut its position in shares of First Bancorp (NASDAQ:FBNC) by 49.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,480 shares of the financial services provider’s stock after selling 19,238 shares during the quarter. GSA Capital Partners LLP owned 0.07% of First Bancorp worth $789,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in First Bancorp by 43.9% during the second quarter. Sei Investments Co. now owns 5,061 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 1,544 shares during the last quarter. Private Advisor Group LLC bought a new position in First Bancorp during the third quarter worth $277,000. Engineers Gate Manager LP bought a new position in First Bancorp during the second quarter worth $283,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in First Bancorp during the second quarter worth $296,000. Finally, Tower Research Capital LLC TRC bought a new position in First Bancorp during the second quarter worth $375,000. Hedge funds and other institutional investors own 66.24% of the company’s stock.
FBNC stock opened at $33.75 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.95 and a beta of 1.00. First Bancorp has a 1 year low of $33.70 and a 1 year high of $43.14.
First Bancorp (NASDAQ:FBNC) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $67.22 million for the quarter, compared to analysts’ expectations of $67.43 million. First Bancorp had a return on equity of 10.92% and a net margin of 27.88%. As a group, analysts predict that First Bancorp will post 3.01 EPS for the current year.
Several equities analysts recently issued reports on the company. Brean Capital restated a “buy” rating on shares of First Bancorp in a research note on Monday, October 22nd. BidaskClub upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. Stephens restated a “hold” rating and set a $39.00 price objective on shares of First Bancorp in a research note on Thursday, November 1st. Finally, ValuEngine cut First Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.75.
In related news, CEO Richard H. Moore bought 1,250 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were bought at an average cost of $39.79 per share, for a total transaction of $49,737.50. Following the completion of the purchase, the chief executive officer now owns 139,935 shares of the company’s stock, valued at approximately $5,568,013.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suzanne S. Deferie bought 5,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was bought at an average price of $39.80 per share, for a total transaction of $199,000.00. Following the completion of the purchase, the insider now directly owns 132,545 shares of the company’s stock, valued at approximately $5,275,291. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
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About First Bancorp
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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposits and individual retirement accounts.
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