Mutual of America Capital Management LLC Has $258,000 Stock Holdings in First Bancorp (NASDAQ:FBNC)

Mutual of America Capital Management LLC decreased its position in shares of First Bancorp (NASDAQ:FBNC) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,209 shares of the financial services provider’s stock after selling 558 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Bancorp were worth $258,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of First Bancorp during the 2nd quarter valued at approximately $44,000. Aptus Capital Advisors LLC acquired a new position in shares of First Bancorp during the 3rd quarter valued at $212,000. Olympiad Research LP acquired a new position in First Bancorp during the 3rd quarter worth approximately $217,000. Everence Capital Management Inc. bought a new position in shares of First Bancorp in the third quarter valued at $240,000. Finally, Novare Capital Management LLC acquired a new position in shares of First Bancorp during the second quarter valued at about $216,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at First Bancorp

In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $43.77, for a total transaction of $89,115.72. Following the completion of the sale, the director now owns 65,618 shares of the company’s stock, valued at $2,872,099.86. This represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 3.65% of the company’s stock.

First Bancorp Price Performance

NASDAQ FBNC opened at $47.86 on Friday. The firm’s 50-day simple moving average is $43.61 and its two-hundred day simple moving average is $38.82. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.06. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The company has a market cap of $1.98 billion, a PE ratio of 19.30 and a beta of 1.02.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $144.99 million for the quarter, compared to analysts’ expectations of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. Research analysts predict that First Bancorp will post 2.72 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th.

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.