SageView Advisory Group LLC Has $262,000 Stock Position in First Bancorp (NASDAQ:FBNC)

SageView Advisory Group LLC cut its position in First Bancorp (NASDAQ:FBNC - Free Report) by 75.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,303 shares of the financial services provider's stock after selling 19,033 shares during the period. SageView Advisory Group LLC's holdings in First Bancorp were worth $262,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of First Bancorp in the second quarter valued at about $44,000. CreativeOne Wealth LLC acquired a new stake in First Bancorp in the 3rd quarter valued at about $211,000. Aptus Capital Advisors LLC bought a new position in shares of First Bancorp in the third quarter worth about $212,000. Olympiad Research LP acquired a new position in shares of First Bancorp during the third quarter worth approximately $217,000. Finally, Everence Capital Management Inc. acquired a new position in shares of First Bancorp during the third quarter worth approximately $240,000. 68.36% of the stock is owned by institutional investors.

First Bancorp Trading Up 0.6 %

Shares of NASDAQ FBNC traded up $0.28 during mid-day trading on Friday, hitting $47.93. The company's stock had a trading volume of 93,731 shares, compared to its average volume of 191,984. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The company's fifty day simple moving average is $44.30 and its 200-day simple moving average is $39.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.83 and a quick ratio of 0.82. The stock 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.70. The firm had revenue of $144.99 million for the quarter, compared to analysts' expectations of $97.00 million. First Bancorp had a net margin of 17.98% and a return on equity of 8.00%. On average, sell-side analysts anticipate that First Bancorp will post 2.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FBNC shares. StockNews.com cut shares of First Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research report on Wednesday.

Insider Buying and Selling

In other news, Director Suzanne S. Deferie sold 2,036 shares of First Bancorp stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $43.77, for a total transaction of $89,115.72. Following the transaction, the director now directly owns 65,618 shares of the company's stock, valued at $2,872,099.86. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.65% of the stock is owned by 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.