Today, the CFO of First Bancorp, Eric Credle, exercised options of First Bancorp (NASDAQ: FBNC) for $103.6K. The options were close to expired and Eric Credle retained stocks.
Following this transaction Eric Credle’s holding in the company was increased by 15.55% to a total of $1.9 million. Following Eric Credle’s last FBNC Buy transaction on May 04, 2017, the stock climbed by 11.1%.
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Based on First Bancorp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $71 million and quarterly net profit of $20.67 million. In comparison, last year the company earned revenue of $46.28 million and had a net profit of $7.56 million. FBNC’s market cap is $1.21B and the company has a P/E ratio of 18.85. Currently, First Bancorp has an average volume of 62.97K.
Five different firms, including Brean Capital and FIG Partners, currently also have a Buy rating on the stock. Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $43.00, reflecting a -5.2% downside.
In the last 30 days, insiders have sold $149.9K worth of FBNC shares and purchased $310.3K worth of FBNC shares. The insider sentiment on First Bancorp has been neutral according to 27 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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First Bancorp (North Carolina) operates as a bank holding company, which engages banking activities, with the acceptance of deposits and the making of loans. It provides range of deposit products such as checking, savings, NOW and money market accounts, as well as time deposits, including various types of certificates of deposits CDs and individual retirement accounts. The company’s offerings include credit cards, debit cards, letters of credit; safe deposit box rentals, bank money orders and electronic funds transfer services, including wire transfers. It provides loans for a range of consumer and commercial purposes, including loans for business, agriculture, real estate, personal uses, home improvement and automobiles. The company was founded on December 8, 1983 and is headquartered in Southern Pines, NC.
