Independent Advisor Alliance Has $400,000 Position in First Bancorp (NASDAQ:FBNC)

Independent Advisor Alliance cut its holdings in First Bancorp (NASDAQ:FBNC) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,617 shares of the financial services provider’s stock after selling 545 shares during the quarter. Independent Advisor Alliance’s holdings in First Bancorp were worth $400,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in First Bancorp by 0.4% during the 1st 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Bancorp by 6.9% during the second 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 boosted its holdings in First Bancorp by 18.4% in the second quarter. William Blair Investment Management LLC now owns 802,490 shares of the financial services provider’s stock valued at $25,615,000 after acquiring an additional 124,992 shares during the last quarter. Victory Capital Management Inc. increased 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 worth $24,979,000 after purchasing an additional 4,656 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Bancorp by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 493,847 shares of the financial services provider’s stock worth $20,539,000 after purchasing an additional 14,737 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Insider Activity at First Bancorp

In related news, Director Suzanne S. Deferie sold 2,036 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $43.77, for a total value of $89,115.72. Following the completion of the sale, the director now owns 65,618 shares in the company, valued at $2,872,099.86. This represents a 3.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.65% of the stock is currently owned by corporate insiders.

First Bancorp Stock Performance

Shares of First Bancorp stock opened at $47.86 on Friday. First Bancorp has a 52 week low of $29.53 and a 52 week high of $50.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.30 and a beta of 1.02. The firm has a fifty day moving average of $43.61 and a two-hundred day moving average of $38.82.

First Bancorp (NASDAQ:FBNC) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.70 EPS for the quarter, meeting 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, equities research analysts predict that First Bancorp will post 2.72 EPS for the current year.

Wall Street Analysts Forecast Growth

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

First Bancorp Company 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.