SageView Advisory Group LLC Sells 19,033 Shares of First Bancorp (NASDAQ:FBNC)

SageView Advisory Group LLC cut its stake in First Bancorp (NASDAQ:FBNC) by 75.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,303 shares of the financial services provider’s stock after selling 19,033 shares during the quarter. SageView Advisory Group LLC’s holdings in First Bancorp were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in First Bancorp in the 2nd quarter worth about $44,000. CreativeOne Wealth LLC bought a new position in shares of First Bancorp in the third quarter valued at approximately $211,000. Aptus Capital Advisors LLC purchased a new stake in shares of First Bancorp during the third quarter valued at approximately $212,000. Novare Capital Management LLC bought a new stake in First Bancorp during the second quarter worth $216,000. Finally, Olympiad Research LP purchased a new position in First Bancorp in the third quarter worth $217,000. Institutional investors own 68.36% of the company’s stock.

Insider Transactions at First Bancorp

In other news, Director Suzanne S. Deferie sold 17,750 shares of First Bancorp stock in a transaction on Friday, September 20th. The stock was sold at an average price of $43.96, for a total value of $780,290.00. Following the completion of the transaction, the director now directly owns 67,654 shares in the company, valued at approximately $2,974,069.84. The trade was a 20.78 % 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 the SEC website. Corporate insiders own 3.65% of the company’s stock.

First Bancorp Price Performance

Shares of NASDAQ FBNC opened at $47.93 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $44.30 and a two-hundred day simple moving average of $39.58. First Bancorp has a 1-year low of $29.53 and a 1-year high of $50.34. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 19.33 and a beta of 1.04.

First Bancorp (NASDAQ:FBNC) last posted 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. First Bancorp had a return on equity of 8.00% and a net margin of 17.98%. The company had revenue of $144.99 million during the quarter, compared to the consensus estimate of $97.00 million. Analysts anticipate that First Bancorp will post 2.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FBNC shares. Keefe, Bruyette & Woods raised their target price on First Bancorp from $49.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 24th.

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.