KBW Believes First Bancorp (NASDAQ: FBNC) Still Has Room to Grow

By Carrie Williams

In a report released today, Michael Perito from KBW reiterated a Buy rating on First Bancorp (NASDAQ: FBNC), with a price target of $34. The company’s shares opened today at $30.14, close to its 52-week high of $32.27.

According to TipRanks.com, Perito is a 5-star analyst with an average return of 21.6% and a 75.8% success rate. Perito covers the Financial sector, focusing on stocks such as Univest Corporation Of Pennsylvania, Enterprise Financial Services Corp, and Orrstown Financial Services Inc.

First Bancorp has an analyst consensus of Moderate Buy, with a price target consensus of $34.

First Bancorp’s market cap is currently $745.6M and has a P/E ratio of 22.56. The company has a book value ratio of 1.5232.

Based on the recent corporate insider activity of 40 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. Last month, Frederick Leslie Taylor, a Director at FBNC bought 2,250 shares for a total of $44,123.

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.