First Bancorp (NASDAQ:FBNC) Director Sells $212,400.00 in Stock

First Bancorp (NASDAQ:FBNC) Director J Randolph Potter sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $42.48, for a total value of $212,400.00. Following the transaction, the director now directly owns 3,001 shares in the company, valued at approximately $127,482.48. This trade represents a 62.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

First Bancorp Stock Down 0.6 %

Shares of NASDAQ:FBNC traded down $0.27 during midday trading on Wednesday, hitting $43.87. 80,329 shares of the company’s stock were exchanged, compared to its average volume of 161,399. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.82. First Bancorp has a 12 month low of $29.53 and a 12 month high of $50.34. The company has a market cap of $1.81 billion, a PE ratio of 17.69 and a beta of 1.05. The stock has a 50 day moving average price of $45.26 and a 200-day moving average price of $43.04.

Analysts Set New Price Targets

FBNC has been the subject of several recent research reports. StockNews.com downgraded First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

Institutional Trading of First Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its holdings in shares of First Bancorp by 82.3% in the fourth quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC grew its position in First Bancorp by 22.3% in the 4th quarter. GAMMA Investing LLC now owns 1,386 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 253 shares in the last quarter. KBC Group NV increased its stake in First Bancorp by 76.0% in the 4th quarter. KBC Group NV now owns 2,592 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,119 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in shares of First Bancorp by 157.3% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,551 shares of the financial services provider’s stock worth $157,000 after buying an additional 2,171 shares in the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of First Bancorp in the 3rd quarter worth approximately $205,000. 68.36% of the stock is owned by institutional investors.

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. 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.