Mutual of America Capital Management LLC Sells 558 Shares of First Bancorp (NASDAQ:FBNC)

Mutual of America Capital Management LLC trimmed its holdings in shares of First Bancorp (NASDAQ:FBNC) by 8.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,209 shares of the financial services provider’s stock after selling 558 shares during the period. Mutual of America Capital Management LLC’s holdings in First Bancorp were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FBNC. Vanguard Group Inc. raised its holdings in 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 buying an additional 10,414 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Bancorp by 6.9% during 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 acquiring an additional 136,002 shares during the period. William Blair Investment Management LLC lifted its position in shares of First Bancorp by 18.4% during 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 buying an additional 124,992 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of 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 worth $24,979,000 after purchasing an additional 4,656 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in shares of First Bancorp by 15.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 210,200 shares of the financial services provider’s stock valued at $6,710,000 after purchasing an additional 27,450 shares during the period. 68.36% of the stock is owned by institutional investors.

First Bancorp Stock Down 1.5 %

Shares of FBNC stock opened at $47.86 on Friday. The company’s fifty day simple moving average is $43.61 and its two-hundred day simple moving average is $38.82. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The stock has a market cap of $1.98 billion, a P/E ratio of 19.30 and a beta of 1.02. 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 (NASDAQ:FBNC) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $144.99 million during the quarter, compared to analyst estimates of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. Analysts predict that First Bancorp will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Suzanne S. Deferie sold 2,036 shares of the business’s 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 directly owns 65,618 shares of the company’s stock, valued at approximately $2,872,099.86. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.65% of the stock is currently owned by company insiders.

First Bancorp Profile

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.