American National Bank & Trust Co. VA Makes New Investment in First Bancorp (NASDAQ:FBNC)

American National Bank & Trust Co. VA acquired a new position in shares of First Bancorp (NASDAQ:FBNC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,742 shares of the financial services provider’s stock, valued at approximately $4,071,000. American National Bank & Trust Co. VA owned 0.27% of First Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FBNC. Deutsche Bank AG boosted its position in shares of First Bancorp by 11.0% during the third quarter. Deutsche Bank AG now owns 20,170 shares of the financial services provider’s stock worth $568,000 after buying an additional 1,992 shares during the period. Trexquant Investment LP acquired a new position in shares of First Bancorp during the third quarter worth about $327,000. Kennedy Capital Management LLC acquired a new position in shares of First Bancorp during the third quarter worth about $490,000. Resources Management Corp CT ADV boosted its position in shares of First Bancorp by 57.1% during the third quarter. Resources Management Corp CT ADV now owns 7,700 shares of the financial services provider’s stock worth $217,000 after buying an additional 2,799 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in shares of First Bancorp by 8.3% during the third quarter. Public Employees Retirement System of Ohio now owns 122,420 shares of the financial services provider’s stock worth $3,445,000 after buying an additional 9,341 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Bancorp

In other news, Director Mary Clara Capel sold 1,015 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $30.05, for a total value of $30,500.75. Following the completion of the sale, the director now directly owns 11,569 shares of the company’s stock, valued at $347,648.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th.

First Bancorp Stock Down 1.4 %

NASDAQ FBNC traded down $0.44 during trading hours on Thursday, hitting $32.14. 109,032 shares of the company traded hands, compared to its average volume of 157,356. The business’s 50-day moving average is $31.28 and its 200-day moving average is $33.60. First Bancorp has a twelve month low of $26.00 and a twelve month high of $38.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 11.60 and a beta of 1.03.

First Bancorp (NASDAQ:FBNC) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.03). First Bancorp had a net margin of 20.58% and a return on equity of 8.62%. The company had revenue of $92.17 million for the quarter, compared to analyst estimates of $96.12 million. Sell-side analysts anticipate that First Bancorp will post 2.5 earnings per share for the current year.

First Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Sunday, June 30th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 28th. This represents a $0.88 annualized dividend and a yield of 2.74%. First Bancorp’s dividend payout ratio (DPR) is presently 31.77%.

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.