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First Bancorp
(NASDAQ:FBNC)
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Rating:68Neutral
Price Target:
$70.00
▲(11.57% Upside)
Action:Downgraded
Date:08/07/26
FBNC’s score is driven primarily by strong financial resilience—very low leverage and strong cash conversion—partly offset by a weakening income statement trend (sharp TTM revenue decline and lower operating margin). Technicals are supportive with price above key moving averages, but valuation is a significant headwind due to the very high P/E. Corporate signals are generally positive (dividend continuation), though the loan mix shift adds CRE-related risk to monitor.
Positive Factors
Conservative Balance Sheet
Very low leverage and growing equity provide resilience against credit losses and funding stress. This conservative capital position gives First Bank flexibility to support lending, absorb volatility, and maintain stability through changing banking conditions.
Negative Factors
Revenue Contraction
A sharp revenue decline signals pressure on the bank's core earning capacity, potentially reflecting weaker loan growth, funding costs, or noninterest income. Sustained contraction would limit operating leverage and make future profitability more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and growing equity provide resilience against credit losses and funding stress. This conservative capital position gives First Bank flexibility to support lending, absorb volatility, and maintain stability through changing banking conditions.
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
$2.68B
Dividend Yield1.45%
Average Volume (3M)208.85K
Price to Earnings (P/E)20.1
Beta (1Y)0.90
Revenue Growth4.15%
EPS Growth36.83%
CountryUS
Employees1,374
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.22
Shares Outstanding41,374,220
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$68.94Price Target Upside9.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)4.56
Revenue Forecast (FY)$510.80M
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
58
Neutral
Balance Sheet
82
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 428.00M | 543.12M | 530.81M | 541.11M | 407.66M | 324.90M |
| Gross Profit | 272.13M | 380.81M | 327.40M | 381.20M | 379.16M | 300.34M |
| EBITDA | 50.32M | 154.64M | 116.00M | 151.17M | 200.55M | 134.25M |
| Net Income | 133.25M | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M |
Balance Sheet | ||||||
| Total Assets | 13.04B | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Cash, Cash Equivalents and Short-Term Investments | 2.07B | 2.20B | 2.40B | 2.43B | 2.58B | 3.09B |
| Total Debt | 74.72M | 74.57M | 14.55M | 321.67M | 237.82M | 19.50M |
| Total Liabilities | 11.33B | 11.01B | 10.70B | 10.74B | 9.59B | 9.28B |
| Stockholders Equity | 1.72B | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
Cash Flow | ||||||
| Free Cash Flow | 226.98M | 198.89M | 172.12M | 126.97M | 225.37M | 132.93M |
| Operating Cash Flow | 232.50M | 203.13M | 174.78M | 131.40M | 230.65M | 142.34M |
| Investing Cash Flow | -581.36M | -562.07M | 169.67M | -191.37M | -713.36M | -1.27B |
| Financing Cash Flow | 187.90M | 161.03M | -74.80M | 27.51M | 291.86M | 1.23B |
First Bancorp Technical Analysis
Positive
62.74
Price Trends
63.62
Positive
60.92
Positive
57.56
Positive
Market Momentum
0.50
Positive
51.58
Neutral
31.21
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 62.74 is below the 20-day moving average (MA) of 64.64, below the 50-day MA of 63.62, and above the 200-day MA of 57.56, indicating a bullish trend. The MACD of 0.50 indicates Positive momentum. The RSI at 51.58 is Neutral, neither overbought nor oversold. The STOCH value of 31.21 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.71B | 12.70 | 11.26% | 2.82% | 14.46% | 46.91% | |
74 Outperform | $2.55B | 16.26 | 13.56% | 1.56% | 9.30% | 15.23% | |
73 Outperform | $2.64B | 13.43 | 7.26% | 3.36% | 5.05% | -19.06% | |
71 Outperform | $2.42B | 11.68 | 10.65% | 2.85% | 2.89% | 15.51% | |
70 Outperform | $2.70B | 9.40 | 13.57% | ― | 11.55% | 103.48% | |
68 Neutral | $2.68B | 20.09 | 8.01% | 1.50% | 4.15% | 36.83% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FBNC
First Bancorp
64.70
11.63
21.92%
BANR
Banner
71.14
6.19
9.53%
FRME
First Merchants
42.03
2.47
6.24%
NBTB
NBT Bancorp
52.09
9.18
21.38%
SYBT
Stock Yards Bancorp
81.93
2.29
2.87%
CUBI
Customers Bancorp
79.79
11.04
16.06%
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 ...
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.