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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.27 Million Stake in First Bancorp (NASDAQ:FBNC)

First Bancorp logo with Finance background

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of First Bancorp (NASDAQ:FBNC - Free Report) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,884 shares of the financial services provider's stock after selling 12,632 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.66% of First Bancorp worth $11,266,000 at the end of the most recent quarter.

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

First Bancorp Price Performance

FBNC stock traded up $0.28 during trading on Friday, hitting $47.93. 93,731 shares of the stock traded hands, compared to its average volume of 191,984. 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 market cap of $1.98 billion, a price-to-earnings ratio of 19.33 and a beta of 1.04. First Bancorp has a one year low of $29.53 and a one year high of $50.34. The company has a 50 day simple moving average of $44.30 and a 200 day simple moving average of $39.58.

First Bancorp (NASDAQ:FBNC - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $0.70 EPS 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 business had revenue of $144.99 million for the quarter, compared to the consensus estimate of $97.00 million. Equities analysts expect that First Bancorp will post 2.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Bancorp news, Director Suzanne S. Deferie sold 2,036 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $43.77, for a total transaction of $89,115.72. Following the transaction, the director now owns 65,618 shares of the company's stock, valued at approximately $2,872,099.86. This represents a 3.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FBNC. Keefe, Bruyette & Woods raised their price target on shares of First Bancorp from $49.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday. StockNews.com lowered First Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, October 24th.

Check Out Our Latest Stock Report on First Bancorp

About First Bancorp

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for First Bancorp (NASDAQ:FBNC)

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