First Bancorp (NASDAQ:FBNC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of First Bancorp (NASDAQ:FBNC) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,416 shares of the financial services provider’s stock after selling 1,761 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of First Bancorp worth $1,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FBNC. Vanguard Group Inc. increased its position in shares of First Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,799,602 shares of the financial services provider’s stock worth $101,122,000 after acquiring an additional 10,414 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First Bancorp by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,104,258 shares of the financial services provider’s stock valued at $67,166,000 after purchasing an additional 136,002 shares in the last quarter. William Blair Investment Management LLC increased its holdings in First Bancorp by 18.4% in the 2nd quarter. William Blair Investment Management LLC now owns 802,490 shares of the financial services provider’s stock valued at $25,615,000 after purchasing an additional 124,992 shares in the last quarter. Victory Capital Management Inc. raised its position in First Bancorp by 0.8% in the third quarter. Victory Capital Management Inc. now owns 600,609 shares of the financial services provider’s stock valued at $24,979,000 after purchasing an additional 4,656 shares during the period. Finally, Peregrine Capital Management LLC lifted its stake in shares of First Bancorp by 15.0% during the second quarter. Peregrine Capital Management LLC now owns 210,200 shares of the financial services provider’s stock worth $6,710,000 after purchasing an additional 27,450 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

First Bancorp Trading Down 1.2 %

NASDAQ FBNC opened at $47.30 on Friday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 19.07 and a beta of 1.02. 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’s fifty day moving average price is $43.75 and its two-hundred day moving average price is $39.00.

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

Insider Transactions 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 sale, the director now directly owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. This represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.65% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a report 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.