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First Bancorp
(NASDAQ:FBNC)
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Rating:74Outperform
Price Target:
$69.00
▲(15.95% Upside)
Action:Reiterated
Date:06/12/26
FBNC scores well primarily due to solid financial performance (profitability, conservative leverage, and strong cash conversion) and constructive technical momentum (price above key moving averages with positive MACD). The main constraint is valuation (P/E ~20.9 with a modest ~1.5% yield), while recent corporate actions around dividends and governance provide a modest positive offset.
Positive Factors
Balance Sheet Strength
Conservative leverage and low debt-to-equity provide resiliency across economic cycles, lowering solvency and liquidity risk. This structural strength supports lending flexibility, a regulatory capital buffer, and capacity to sustain dividends and organic growth over the next several quarters.
Negative Factors
Modest Revenue Growth
Modest revenue growth (low single digits) constrains scalability of earnings and limits the pace at which the bank can expand loan book or fee income. Over 2–6 months this structural growth ceiling may slow improvements in ROE and limit balance-sheet expansion and strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Conservative leverage and low debt-to-equity provide resiliency across economic cycles, lowering solvency and liquidity risk. This structural strength supports lending flexibility, a regulatory capital buffer, and capacity to sustain dividends and organic growth over the next several quarters.
Read all positive factors
First Bancorp Key Performance Indicators (KPIs)
Any
Loan Portfolio By Industry
Analyzes the distribution of loans across different industries, highlighting exposure to various sectors and potential risk or growth opportunities based on economic trends and industry performance.
Analyzes the distribution of loans across different industries, highlighting exposure to various sectors and potential risk or growth opportunities based on economic trends and industry performance.
Data provided by:
The Fly
The FlyFirst Bancorp (FBNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.64B
Dividend Yield1.69%
Average Volume (3M)208.85K
Price to Earnings (P/E)21.7
Beta (1Y)0.87
Revenue Growth3.15%
EPS Growth38.23%
CountryUS
Employees1,345
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.93
Shares Outstanding41,375,412
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 Cap0.93
Enterprise Value/Revenue4.40
Enterprise Value/Gross Profit6.18
Enterprise Value/Ebitda14.73
Forecast
1Y Price Target
$65.25Price Target Upside9.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.65
Revenue Forecast (FY)$510.39M
First Bancorp Business Overview & Revenue Model
Company Description
First Bancorp (FBNC) functions as the parent company of First Bank, offering a diverse array of financial solutions to individuals and small to medium-sized businesses. Its operational focus is primarily within North Carolina and the northeastern ...
How the Company Makes Money
First Bancorp primarily makes money through net interest income and noninterest income. Net interest income is earned from the spread between (1) interest and fees collected on interest-earning assets—primarily loans to consumers and businesses an...
First Bancorp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 556.29M | 543.12M | 530.81M | 541.11M | 407.66M | 324.90M |
| Gross Profit | 396.51M | 380.81M | 327.40M | 381.20M | 379.16M | 300.34M |
| EBITDA | 166.28M | 154.64M | 116.00M | 151.17M | 200.55M | 134.25M |
| Net Income | 121.30M | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M |
Balance Sheet | ||||||
| Total Assets | 12.95B | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Cash, Cash Equivalents and Short-Term Investments | 2.11B | 2.20B | 2.40B | 2.43B | 2.58B | 3.09B |
| Total Debt | 89.24M | 74.57M | 14.55M | 321.67M | 237.82M | 19.50M |
| Total Liabilities | 11.26B | 11.01B | 10.70B | 10.74B | 9.59B | 9.28B |
| Stockholders Equity | 1.68B | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
Cash Flow | ||||||
| Free Cash Flow | 205.85M | 198.89M | 172.12M | 126.97M | 225.37M | 132.93M |
| Operating Cash Flow | 211.73M | 203.13M | 174.78M | 131.40M | 230.65M | 142.34M |
| Investing Cash Flow | -591.75M | -562.07M | 169.67M | -191.37M | -713.36M | -1.27B |
| Financing Cash Flow | 205.56M | 161.03M | -74.80M | 27.51M | 291.86M | 1.23B |
First Bancorp Technical Analysis
Positive
59.51
Price Trends
59.66
Positive
58.30
Positive
55.14
Positive
Market Momentum
1.39
Negative
62.14
Neutral
66.72
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 below the 20-day moving average (MA) of 61.68, below the 50-day MA of 59.66, and above the 200-day MA of 55.14, indicating a bullish trend. The MACD of 1.39 indicates Negative momentum. The RSI at 62.14 is Neutral, neither overbought nor oversold. The STOCH value of 66.72 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $2.60B | 14.09 | 9.83% | 3.33% | 17.46% | 16.00% | |
78 Outperform | $2.28B | 11.32 | 10.66% | 2.97% | 3.87% | 16.71% | |
75 Outperform | $2.31B | 15.92 | 13.58% | 1.88% | 9.58% | 17.44% | |
74 Outperform | $2.64B | 21.69 | 7.47% | 1.69% | 3.15% | 38.23% | |
72 Outperform | $2.74B | 12.74 | 8.03% | 3.72% | 0.97% | -4.32% | |
72 Outperform | $2.63B | 9.48 | 13.62% | ― | 9.32% | 97.60% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FBNC
First Bancorp
63.64
18.05
39.58%
BANR
Banner
67.60
1.49
2.26%
FRME
First Merchants
43.43
4.10
10.42%
NBTB
NBT Bancorp
50.16
8.28
19.77%
SYBT
Stock Yards Bancorp
77.84
-2.17
-2.72%
CUBI
Customers Bancorp
78.08
14.07
21.98%
First Bancorp Corporate Events
DividendsFinancial Disclosures
First Bancorp Declares Quarterly Cash Dividend After Strong Quarter
Positive
Jun 12, 2026
On June 12, 2026, First Bancorp, the parent company of First Bank, announced that its board of directors declared a cash dividend of $0.24 per share on its common stock, payable on July 24, 2026, to shareholders of record as of June 30, 2026. The ...
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.