In a report released today, Kevin Fitzsimmons from D.A. Davidson maintained a Hold rating on First Bancorp (FBNC – Research Report). The company’s shares closed yesterday at $33.08.
Fitzsimmons covers the Financial sector, focusing on stocks such as First Bancorp, Carter Bankshares, and Capital City Bank. According to TipRanks, Fitzsimmons has an average return of 5.8% and a 52.21% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Bancorp with a $37.00 average price target.
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Based on First Bancorp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $21.04 million and a net profit of $7.97 million. In comparison, last year the company earned a revenue of $22.86 million and had a net profit of $9.71 million
Based on the recent corporate insider activity of 39 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.
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First Bancorp 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.
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