First Bancorp (FBNC)
NASDAQ:FBNC
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First Bancorp
(NASDAQ:FBNC)
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Rating:77Outperform
Price Target:
$68.00
▲(14.27% Upside)
Action:ReiteratedDate:04/30/26
The score is driven primarily by solid financial performance (improving 2025 profitability, very low leverage, and good cash-flow quality). Technicals add support with an uptrend and positive momentum indicators. Valuation is reasonable at ~12.5x earnings with a modest dividend yield, while corporate events are mildly positive (dividend increase and governance stability).
Positive Factors
Conservative balance sheet
Very low leverage and a growing equity base provide a durable capital buffer that supports lending through economic cycles, reduces regulatory capital pressure, and preserves strategic optionality for organic growth or targeted investments without destabilizing funding or credit profiles.
Negative Factors
Earnings cyclicality and volatility
Marked swings in profitability versus prior peaks reduce forecast reliability and increase the risk that earnings and capital returns revert in adverse rate or credit cycles, complicating long-term planning for investments, dividend policy, and strategic growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a growing equity base provide a durable capital buffer that supports lending through economic cycles, reduces regulatory capital pressure, and preserves strategic optionality for organic growth or targeted investments without destabilizing funding or credit profiles.
Read all positive factors
First Bancorp (FBNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.38B
Dividend Yield1.69%
Average Volume (3M)208.85K
Price to Earnings (P/E)12.5
Beta (1Y)0.90
Revenue Growth3.15%
EPS Growth38.44%
CountryUS
Employees1,345
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.68
Shares Outstanding41,429,640
10 Day Avg. Volume282,282
30 Day Avg. Volume208,855
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)1.27
Price to Sales (P/S)3.87
P/FCF Ratio10.56
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue4.26
Enterprise Value/Gross Profit6.08
Enterprise Value/Ebitda14.97
Forecast
1Y Price Target
$66.00Price Target Upside10.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.64
Revenue Forecast (FY)$511.17M
First Bancorp Business Overview & Revenue Model
Company Description
First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit prod...
How the Company Makes Money
First Bancorp primarily makes money through (1) net interest income and (2) noninterest income. Net interest income is generated by earning interest and fees on loans and interest-earning assets (e.g., commercial and consumer loans, real estate lo...
First Bancorp Key Performance Indicators (KPIs)
First Bancorp Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
83
Very Positive
Cash Flow
80
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 543.12M | 530.81M | 541.11M | 407.66M | 324.90M |
| Gross Profit | 380.81M | 327.40M | 381.20M | 379.16M | 300.34M |
| EBITDA | 154.64M | 116.00M | 151.17M | 200.55M | 134.25M |
| Net Income | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M |
Balance Sheet | |||||
| Total Assets | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Cash, Cash Equivalents and Short-Term Investments | 2.20B | 2.40B | 2.43B | 2.58B | 3.09B |
| Total Debt | 74.57M | 14.55M | 321.67M | 237.82M | 19.50M |
| Total Liabilities | 11.01B | 10.70B | 10.74B | 9.59B | 9.28B |
| Stockholders Equity | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
Cash Flow | |||||
| Free Cash Flow | 198.89M | 172.12M | 126.97M | 225.37M | 132.93M |
| Operating Cash Flow | 203.13M | 174.78M | 131.40M | 230.65M | 142.34M |
| Investing Cash Flow | -562.07M | 169.67M | -191.37M | -713.36M | -1.27B |
| Financing Cash Flow | 161.03M | -74.80M | 27.51M | 291.86M | 1.23B |
First Bancorp Technical Analysis
Positive
59.51
Price Trends
57.29
Positive
55.45
Positive
52.82
Positive
Market Momentum
0.82
Negative
63.32
Neutral
71.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBNC, the sentiment is Positive. The current price of 59.51 is above the 20-day moving average (MA) of 56.62, above the 50-day MA of 57.29, and above the 200-day MA of 52.82, indicating a bullish trend. The MACD of 0.82 indicates Negative momentum. The RSI at 63.32 is Neutral, neither overbought nor oversold. The STOCH value of 71.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBNC.
First Bancorp Risk Analysis
First Bancorp disclosed 27 risk factors in its most recent earnings report. First Bancorp reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $2.38B | 12.48 | 7.47% | 1.69% | 3.15% | 38.44% | |
77 Outperform | $2.19B | 9.44 | 10.66% | 2.97% | 3.90% | 16.71% | |
72 Outperform | $2.58B | 8.49 | 13.62% | ― | 9.32% | 97.60% | |
71 Outperform | $2.29B | 10.86 | 9.83% | 3.33% | 17.46% | 15.96% | |
71 Outperform | $2.10B | 13.31 | 13.63% | 1.88% | 9.60% | 17.44% | |
69 Neutral | $2.52B | 20.98 | 8.03% | 3.72% | 0.97% | -4.32% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FBNC
First Bancorp
57.34
16.00
38.70%
BANR
Banner
64.79
4.20
6.93%
FRME
First Merchants
40.02
4.37
12.27%
NBTB
NBT Bancorp
44.07
2.45
5.87%
SYBT
Stock Yards Bancorp
71.17
-1.04
-1.45%
CUBI
Customers Bancorp
76.51
25.66
50.46%
First Bancorp Corporate Events
Executive/Board ChangesShareholder Meetings
First Bancorp Shareholders Reaffirm Board and Governance Practices
Positive
Apr 29, 2026
On April 28, 2026, First Bancorp held its annual meeting of shareholders, where investors elected 11 directors to serve on the board until the 2027 annual meeting, reaffirming the company’s existing leadership structure. Shareholders also ra...
Business Operations and StrategyDividendsFinancial Disclosures
First Bancorp Raises Quarterly Dividend Amid Strong Results
Positive
Mar 13, 2026
On March 13, 2026, First Bancorp announced that its board of directors had declared a cash dividend of $0.24 per share on its common stock, payable on April 27, 2026 to shareholders of record as of March 31, 2026. Chief executive Richard Moore hig...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.