Investing.com - Financial Markets Worldwide

First Bancorp director Donnelly buys shares worth $2279

Published 29/07/2025, 18:42
First Bancorp director Donnelly buys shares worth $2279
FBNC
1.40%

First Bancorp (NASDAQ:FBNC) Director Abby Jill Donnelly reported purchasing shares of common stock on July 24, 2025. The purchases, conducted in two transactions, involved a total expenditure of $2279, with prices ranging from $49.413 to $49.416. The timing is notable as the stock trades near its 52-week high of $52, having gained over 10% in the past week. InvestingPro analysis suggests the $2.1B market cap bank remains slightly undervalued despite recent gains.

Donnelly acquired 5.95 shares at $49.413 each and 40.186 shares at $49.416 each. Following these transactions, Donnelly directly owns 10567.31 shares of First Bancorp.

Donnelly also indirectly owns 5774.186 shares through a Rabbi Trust.

In other recent news, First Bancorp reported quarterly results that exceeded expectations, with core pre-provision net revenue reaching $52.3 million, surpassing consensus estimates. This performance was attributed to stronger net interest income, higher fees, and lower expenses. Following these results, Stephens raised its price target for First Bancorp to $57, maintaining an Overweight rating. Similarly, Keefe, Bruyette & Woods increased its price target to $53, citing the bank’s second-quarter operating results, which outperformed expectations due to improved net interest income and provisioning. The bank’s net interest margin also saw a slight increase, rising by 7 basis points to 3.33%. Additionally, First Bancorp announced an increase in its quarterly cash dividend to $0.23 per share, payable on July 25, 2025. In leadership news, First Bank (NASDAQ:FRBA) appointed Larry Jackson as Chief Credit Officer, bringing over two decades of experience in credit risk management to the role. Looking ahead, Keefe, Bruyette & Woods projects First Bancorp to achieve significant organic growth in the Southeast banking sector, with a forecasted growth rate of 8% in 2026.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.