Victory Capital Management Inc. Has $24.98 Million Stock Position in First Bancorp (NASDAQ:FBNC)

Victory Capital Management Inc. grew its holdings in First Bancorp (NASDAQ:FBNC) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 600,609 shares of the financial services provider’s stock after acquiring an additional 4,656 shares during the quarter. Victory Capital Management Inc. owned 1.45% of First Bancorp worth $24,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted 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 during the period. William Blair Investment Management LLC grew its position in First Bancorp by 18.4% during the second quarter. William Blair Investment Management LLC now owns 802,490 shares of the financial services provider’s stock worth $25,615,000 after buying an additional 124,992 shares in the last quarter. Smith Salley Wealth Management acquired a new stake in First Bancorp during the second quarter worth approximately $3,568,000. Chatham Capital Group Inc. increased its stake in First Bancorp by 131.4% during the 2nd quarter. Chatham Capital Group Inc. now owns 76,947 shares of the financial services provider’s stock worth $2,456,000 after acquiring an additional 43,701 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in First Bancorp in the 2nd quarter valued at $877,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBNC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on First Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, October 24th.

Insider Transactions at First Bancorp

In related news, Director Suzanne S. Deferie sold 17,750 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.96, for a total transaction of $780,290.00. Following the completion of the transaction, the director now directly owns 67,654 shares in the company, valued at $2,974,069.84. This represents a 20.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.65% of the company’s stock.

First Bancorp Stock Down 1.8 %

NASDAQ FBNC opened at $45.75 on Monday. The business has a fifty day moving average price of $42.80 and a two-hundred day moving average price of $38.01. The stock has a market capitalization of $1.89 billion, a PE ratio of 18.45 and a beta of 1.02. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $48.21. 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 (NASDAQ:FBNC) last announced its quarterly earnings data 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 business had revenue of $144.99 million during the quarter, compared to the consensus estimate of $97.00 million. First Bancorp had a return on equity of 8.00% and a net margin of 17.98%. Equities analysts expect that First Bancorp will post 2.72 earnings per share for the current fiscal year.

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.