Prelude Capital Management LLC recently purchased 6,171 shares of First Bancorp during the 1st quarter, according to their most recent Form 13F filing with the SEC. The shares were valued at approximately $219,000. Other hedge funds have also made changes to their holdings of the company, including Public Employees Retirement System of Ohio, First Personal Financial Services, Tower Research Capital LLC TRC, Point72 Hong Kong Ltd, and Colonial Trust Advisors.
First Bancorp (NASDAQ:FBNC) has seen a 0.7% decrease in stock value, with shares opening at $27.75 on Wednesday. The company’s 50-day moving average is $31.16, and the two-hundred day moving average is $32.20. The firm’s market cap is $1.14 billion, and it has a price-to-earnings ratio of 8.62.
In July, First Bancorp released their earnings results for the quarter. The financial services provider reported an EPS of $0.71, slightly missing analysts’ consensus estimates of $0.74. The firm had revenue of $101.22 million for the quarter, compared to analyst estimates of $105.50 million. Analysts predict that First Bancorp will post an EPS of 2.47 for the current year.
The company also recently announced a quarterly dividend of $0.22 per share, which will be paid on October 25th to stockholders of record on September 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.17%.
First Bancorp has been the subject of recent research reports. DA Davidson upgraded their rating for the company from “neutral” to “buy” and reduced their price target from $36.50 to $34.00. StockNews.com also raised their rating for First Bancorp to “sell”. In contrast, Raymond James downgraded their rating for the company from “outperform” to “market perform”.
Insider transactions have also occurred within First Bancorp. Director Carlie C. Mclamb, Jr. recently purchased 1,176 shares of First Bancorp stock at an average cost of $31.10 per share. Additionally, Director Mary Clara Capel sold 903 shares of First Bancorp at an average price of $27.97 per share.
Overall, First Bancorp continues to be a significant player in the financial services sector, with various hedge funds and institutional investors making adjustments to their positions.
Definitions:
– Form 13F: A report filed with the SEC by institutional investment managers that discloses their holdings in publicly traded securities.
– Hedge Funds: Investment funds that pool capital from accredited individuals or institutional investors and invest in a variety of assets.
– Financial Services Provider: A company that offers a range of financial products and services, such as banking, asset management, insurance, and investment services.
– Moving Average: A calculation used to analyze data points by creating a series of averages over different subsets of the full data set.
– Market Cap: The total market value of a company’s outstanding shares of stock.
– EPS: Earnings Per Share, a financial metric that indicates the profitability of a company by dividing its net income by its outstanding shares of common stock.
– Dividend: A payment made by a corporation to its shareholders, usually in the form of cash or additional shares of stock.
– Yield: The return on an investment, usually expressed as a percentage of the initial investment.
– Rating: An evaluation of a company’s stock or bonds made by a financial analyst, indicating whether it is a good buy, hold, or sell.
– Insider Transactions: Transactions involving the buying or selling of a company’s stock by individuals who have access to non-public information about the company.
– SEC: The U.S. Securities and Exchange Commission, a federal agency responsible for regulating the securities industry.
Sources:
– Form 13F filing with the SEC
– SEC website
– MarketBeat
– HoldingsChannel.com