First Bancorp (FBNC) is Upgraded by Keefe Bruyette to Outperform

First Bancorp (FBNC) was Upgraded by Keefe Bruyette to ” Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Keefe Bruyette advised their investors in a research report released on Aug 23, 2016.

First Bancorp opened for trading at $18.87 and hit $18.97 on the upside on Friday, eventually ending the session at $18.92, with a gain of 0.05% or 0.01 points. The heightened volatility saw the trading volume jump to 26,499 shares. Company has a market cap of $380 M.

In a different news, on Aug 15, 2016, James C Iii Crawford (director) purchased 2,000 shares at $18.63 per share price. According to the SEC, on Jun 30, 2016, Richard H Moore (CEO) purchased 1,440 shares at $17.25 per share price. On Jun 27, 2016, Michael Goodwin Mayer (President) purchased 500 shares at $17.35 per share price, according to the Form-4 filing with the securities and exchange commission.

First Bancorp is the bank holding company for First Bank (the Bank). The Company’s banking activities include the acceptance of deposits and the making of loans. The Company also offers credit cards debit cards letters of credit safe deposit box rentals and electronic funds transfer services including wire transfers. The Company offers Internet banking mobile banking cash management and bank-by-phone capabilities. As of December 31 2014 the Company conducted business from 87 branches and served primarily the south central region (the Piedmont region) the central mountain region and the eastern coastal region of North Carolina with operations in northeastern South Carolina and southwestern Virginia. As of December 31 2014 the Bank had two wholly owned subsidiaries First Bank Insurance Services Inc. an agent for property and casualty insurance policies and First Troy SPE LLC.

First Bancorp

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