First Bancorp (NASDAQ:FBNC) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in First Bancorp (NASDAQ:FBNC - Free Report) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,248 shares of the financial services provider's stock after selling 15,020 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.21% of First Bancorp worth $3,629,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in First Bancorp during the second quarter worth about $44,000. Stifel Financial Corp purchased a new position in First Bancorp in the 3rd quarter valued at approximately $205,000. CreativeOne Wealth LLC acquired a new position in First Bancorp during the third quarter worth $211,000. Aptus Capital Advisors LLC purchased a new stake in First Bancorp during the third quarter worth $212,000. Finally, Novare Capital Management LLC acquired a new stake in First Bancorp in the second quarter valued at $216,000. Institutional investors and hedge funds own 68.36% of the company's stock.

First Bancorp Price Performance

Shares of FBNC traded up $0.38 during trading hours on Monday, reaching $47.94. 284,288 shares of the company traded hands, compared to its average volume of 166,565. The stock has a market capitalization of $1.98 billion, a PE ratio of 19.33 and a beta of 1.04. The stock has a fifty day simple moving average of $45.11 and a 200 day simple moving average of $40.32. First Bancorp has a fifty-two week low of $29.53 and a fifty-two week high of $50.34. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, meeting 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. As a group, research analysts predict that First Bancorp will post 2.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on FBNC shares. StockNews.com downgraded shares of First Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th.

Insider Activity at First Bancorp

In other First Bancorp news, Director Suzanne S. Deferie sold 17,750 shares of First Bancorp stock in a transaction dated 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 sale, the director now owns 67,654 shares in the company, valued at $2,974,069.84. The trade was a 20.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.65% of the company's stock.

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.