SG Americas Securities LLC Sells 1,436 Shares of First Bancorp (NASDAQ:FBNC)

SG Americas Securities LLC lowered its holdings in First Bancorp (NASDAQ:FBNC) by 28.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,686 shares of the financial services provider’s stock after selling 1,436 shares during the quarter. SG Americas Securities LLC’s holdings in First Bancorp were worth $118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new stake in First Bancorp during the fourth quarter valued at approximately $253,000. New York State Common Retirement Fund raised its holdings in shares of First Bancorp by 7.5% in the 4th quarter. New York State Common Retirement Fund now owns 16,800 shares of the financial services provider’s stock worth $622,000 after buying an additional 1,175 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of First Bancorp during the 4th quarter worth approximately $68,000. Victory Capital Management Inc. boosted its stake in First Bancorp by 2.7% in the 4th quarter. Victory Capital Management Inc. now owns 556,187 shares of the financial services provider’s stock valued at $20,584,000 after buying an additional 14,710 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in First Bancorp by 6.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 426,746 shares of the financial services provider’s stock valued at $15,794,000 after buying an additional 26,149 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

FBNC has been the subject of several recent analyst reports. StockNews.com lowered First Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods increased their target price on shares of First Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

First Bancorp Trading Down 1.6 %

Shares of FBNC opened at $42.27 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 15.26 and a beta of 1.03. The stock has a fifty day moving average price of $36.90 and a two-hundred day moving average price of $34.39. First Bancorp has a 52-week low of $26.00 and a 52-week high of $45.41.

First Bancorp (NASDAQ:FBNC) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.11. The company had revenue of $143.42 million during the quarter, compared to analyst estimates of $94.00 million. First Bancorp had a return on equity of 8.39% and a net margin of 20.17%. Analysts predict that First Bancorp will post 2.66 EPS for the current fiscal year.

First Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Sunday, June 30th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, June 28th. First Bancorp’s dividend payout ratio is presently 31.77%.

Insider Transactions at First Bancorp

In related news, Director Mary Clara Capel sold 1,015 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were 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 owns 11,569 shares of the company’s stock, valued at $347,648.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Bancorp news, Director Mary Clara Capel sold 1,015 shares of the stock in a transaction 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 transaction, the director now directly owns 11,569 shares in the company, valued at approximately $347,648.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mason Y. Garrett sold 22,800 shares of First Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $43.41, for a total value of $989,748.00. Following the completion of the sale, the director now directly owns 196,416 shares of the company’s stock, valued at $8,526,418.56. The disclosure for this sale can be found here. 3.65% of the stock is owned by company 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.