In a report released yesterday, Blair Brantley from Brean Capital reiterated a Buy rating on First Bancorp (FBNC), with a price target of $42. The company’s shares closed yesterday at $34.78.
According to TipRanks.com, Brantley is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.8% and a 19.3% success rate. Brantley covers the Financial sector, focusing on stocks such as Carolina Financial Corporation, Patriot National Bancorp Inc, and Union Bankshares Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Bancorp with a $38 average price target.
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Based on First Bancorp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $21.99 million. In comparison, last year the company had a net profit of $14.18 million.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FBNC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
