First Bancorp (NASDAQ:FBNC) Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its stake in shares of First Bancorp (NASDAQ:FBNC - Free Report) by 28.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 423,461 shares of the financial services provider's stock after buying an additional 93,072 shares during the quarter. Rockefeller Capital Management L.P. owned about 1.02% of First Bancorp worth $17,612,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of First Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,799,602 shares of the financial services provider's stock valued at $101,122,000 after purchasing an additional 10,414 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in First Bancorp by 6.9% in 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 buying an additional 136,002 shares during the period. William Blair Investment Management LLC increased its stake in First Bancorp by 18.4% in 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 during the period. Victory Capital Management Inc. raised its position in First Bancorp by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 600,609 shares of the financial services provider's stock worth $24,979,000 after buying an additional 4,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of First Bancorp by 3.1% in 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 acquiring an additional 14,737 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

First Bancorp Price Performance

FBNC stock remained flat at $47.30 on Monday. The company had a trading volume of 167,180 shares, compared to its average volume of 165,556. The company has a fifty day moving average of $43.75 and a two-hundred day moving average of $39.10. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 19.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.82 and a current ratio of 0.83. First Bancorp has a 52-week low of $29.53 and a 52-week high of $50.34.

First Bancorp (NASDAQ:FBNC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share for the quarter, hitting analysts' consensus estimates of $0.70. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. The business had revenue of $144.99 million for the quarter, compared to analysts' expectations of $97.00 million. On average, equities research analysts predict that First Bancorp will post 2.72 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at First Bancorp

In related news, Director Suzanne S. Deferie sold 2,036 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total value of $89,115.72. Following 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 legal filing with the SEC, which is available at this hyperlink. 3.65% of the stock is currently owned by corporate insiders.

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.