Emerald Acquisition Ltd. bought a new position in First Bancorp (NASDAQ:FBNC) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 58,972 shares of the financial services provider’s stock, valued at approximately $1,037,000. Emerald Acquisition Ltd. owned about 0.29% of First Bancorp as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Oak Associates Ltd. OH increased its stake in First Bancorp by 0.9% in the first quarter. Oak Associates Ltd. OH now owns 57,275 shares of the financial services provider’s stock worth $1,080,000 after buying an additional 530 shares during the period. Strs Ohio increased its stake in First Bancorp by 2.6% in the second quarter. Strs Ohio now owns 35,300 shares of the financial services provider’s stock worth $620,000 after buying an additional 900 shares during the period. Menta Capital LLC increased its stake in First Bancorp by 12.5% in the first quarter. Menta Capital LLC now owns 15,473 shares of the financial services provider’s stock worth $292,000 after buying an additional 1,720 shares during the period. Bank of New York Mellon Corp increased its stake in First Bancorp by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 98,100 shares of the financial services provider’s stock worth $1,725,000 after buying an additional 2,279 shares during the period. Finally, RMB Capital Management LLC increased its stake in First Bancorp by 4.2% in the second quarter. RMB Capital Management LLC now owns 119,213 shares of the financial services provider’s stock worth $2,096,000 after buying an additional 4,800 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.
First Bancorp (NASDAQ:FBNC) traded up 0.30% during trading on Monday, hitting $20.25. 6,038 shares of the company were exchanged. First Bancorp has a 12 month low of $16.97 and a 12 month high of $21.94. The company has a market capitalization of $406.76 million, a price-to-earnings ratio of 14.76 and a beta of 1.24. The stock’s 50-day moving average is $19.80 and its 200-day moving average is $19.24.
First Bancorp (NASDAQ:FBNC) last announced its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.03. First Bancorp had a net margin of 18.91% and a return on equity of 8.29%. Equities research analysts anticipate that First Bancorp will post $1.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 28th. First Bancorp’s payout ratio is 23.36%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price on shares of First Bancorp in a report on Sunday, June 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. First Bancorp presently has a consensus rating of “Hold” and an average target price of $22.17.
In related news, Director James C. Crawford III acquired 2,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of $18.63 per share, with a total value of $37,260.00. Following the completion of the acquisition, the director now directly owns 59,777 shares in the company, valued at approximately $1,113,645.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.37% of the company’s stock.
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 Company engages in a range of banking activities, including the acceptance of deposits and the making of loans. The Company offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
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