Insider Buying: First Bancorp (FBNC) CEO Purchases 2,755 Shares of Stock

First Bancorp (NASDAQ:FBNC) CEO Richard H. Moore bought 2,755 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were purchased at an average cost of $36.00 per share, with a total value of $99,180.00. Following the purchase, the chief executive officer now directly owns 121,741 shares of the company’s stock, valued at $4,382,676. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of First Bancorp (FBNC) opened at $36.80 on Friday. The stock has a market capitalization of $1,090.00, a PE ratio of 21.40, a P/E/G ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.05 and a quick ratio of 1.05. First Bancorp has a one year low of $26.47 and a one year high of $41.76.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Sunday, December 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, December 28th. First Bancorp’s dividend payout ratio is currently 18.60%.

Several brokerages have recently commented on FBNC. BidaskClub downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Brean Capital reaffirmed a “buy” rating on shares of First Bancorp in a report on Tuesday, December 5th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $42.00 target price on shares of First Bancorp in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $39.50.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in First Bancorp by 1,207.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,268 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 3,018 shares in the last quarter. SG Americas Securities LLC purchased a new stake in First Bancorp in the 3rd quarter worth about $107,000. IFP Advisors Inc lifted its stake in First Bancorp by 250.9% in the 2nd quarter. IFP Advisors Inc now owns 3,513 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 2,512 shares in the last quarter. Captrust Financial Advisors purchased a new stake in First Bancorp in the 2nd quarter worth about $146,000. Finally, Legal & General Group Plc lifted its stake in First Bancorp by 23.1% in the 2nd quarter. Legal & General Group Plc now owns 5,790 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 1,085 shares in the last quarter. 56.51% of the stock is owned by hedge funds and other institutional investors.

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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.

Insider Buying and Selling by Quarter for First Bancorp (NASDAQ:FBNC)

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