First Bancorp
Given the Silicon Valley Bank situation, investors should be cautious when looking at bank stocks, but this one has a long and successful track record. First Bancorp (NASDAQ: FBNC) operates as the bank holding company for First Bank, which provides banking products and services for individuals and small to medium-sized businesses. It accepts deposit products, such as checking, savings and money market accounts, as well as time deposits, including certificates of deposit and individual retirement accounts.
The company also offers loans for a range of consumer and commercial purposes, comprising loans for business, real estate, personal, home improvement and automobiles, as well as residential mortgages and small business administration loans. It offers accounts receivable financing and factoring, inventory financing and purchase order financing services.
In addition, it provides credit and debit cards, letters of credit and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers. It provides internet and mobile banking, cash management, bank-by-phone services and remote deposit capture services. Further, the company offers investment and insurance products, such as mutual funds, annuities, long-term care insurance, life insurance and company retirement plans, as well as property and casualty insurance products, and financial planning services.
Shareholders receive a 2.40% yield, and the company is expected to lift its $0.22 per share dividend to $0.24. The Raymond James target price is $45, but First Bancorp stock has a $47.35 consensus target. The stock closed on Friday at $38.37.
Qualcomm
This stock has traded sideways since November and could be poised to break out when things settle down. Qualcomm Inc. (NASDAQ: QCOM) engages in the development and commercialization of foundational technologies for the wireless industry worldwide.
The Qualcomm CDMA Technologies segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, application processing, multimedia and global positioning system products.
The Qualcomm Technology Licensing segment grants licenses or provides rights to use portions of its intellectual property portfolio, which include various patent rights useful in the manufacture and sale of wireless products comprising products implementing CDMA2000, WCDMA, LTE and OFDMA-based 5G standards and their derivatives.
The Qualcomm Strategic Initiatives segment invests in early-stage companies in various industries (including 5G, artificial intelligence, automotive, consumer, enterprise, cloud and Internet of Things) and investment for supporting the design and introduction of new products and services for voice and data communications, new industries and applications. It also provides development and other services and related products to U.S. government agencies and their contractors.
Investors currently are paid a 2.60% dividend. That $0.75 per share is expected to rise to $0.80. The $165 Credit Suisse price target compares with a $152.23 consensus target, and Qualcomm stock closed at $115.19 on Friday.
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