Yahoo Finance The Chairman & CEO of First Bancorp (NASDAQ:FBNC), Richard Moore, Just Bought 2.0% More Shares
Even if it's not a huge purchase, we think it was good to see that Richard Moore, the Chairman & CEO of First Bancorp (NASDAQ:FBNC) recently shelled out US$100k to buy stock, at US$37.00 per share. Although the purchase is not a big one, increasing their shareholding by only 2.0%, it can be interpreted as a good sign.
See our latest analysis for First Bancorp
First Bancorp Insider Transactions Over The Last Year
In fact, the recent purchase by Chairman & CEO Richard Moore was not their only acquisition of First Bancorp shares this year. They previously made an even bigger purchase of US$102k worth of shares at a price of US$42.74 per share. That means that even when the share price was higher than US$37.66 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Over the last year, we can see that insiders have bought 9.45k shares worth US$400k. On the other hand they divested 700.00 shares, for US$32k. Overall, First Bancorp insiders were net buyers during the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does First Bancorp Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 1.9% of First Bancorp shares, worth about US$26m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The First Bancorp Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of First Bancorp we think they are probably pretty confident of a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 1 warning sign for First Bancorp you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
