First Bancorp (FBNC) AI Stock Analysis

• Market Cap: $1.89B
• Dividend Yield: 2.09%
• Average Volume (3M): 193.81K
• Price to Earnings (P/E): 21.6
• Beta (1Y): 1.03
• Revenue Growth: -2.00%
• EPS Growth: -23.83%
• Country: US
• Employees: 1,345
• Sector: Financial
• Sector Strength: 79
• Industry: Banks - Regional
• EPS (TTM): 0.88
• Shares Outstanding: 41,420,162
• 10 Day Avg. Volume: 252,376
• 30 Day Avg. Volume: 193,807
• PEG Ratio: 1.32
• Price to Book (P/B): 1.11
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 6.83
• Enterprise Value/Market Cap: 0.49
• Enterprise Value/Revenue: 0.42
• Enterprise Value/Gross Profit: 2.69
• Enterprise Value/Ebitda: 1.66
• 1Y Price Target: $49.33
• Price Target Upside: 8.27% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 77 Outperform
• Price Target: $47.00 ▲(3.16%Upside)

First Bancorp's overall score is driven by strong financial performance and positive corporate events. The company's robust cash flow management and increased dividend highlight financial health. Technical indicators suggest a neutral to slightly positive trend, while valuation is fair. The absence of earnings call data limits further insights.

Positive Factors

Financial Performance

FBNC is well-positioned to sustain strong returns and build shareholder value due to its ability to deliver NIM expansion in a down-rate environment and scalable organic growth.

Net Interest Margin

The NIM expanded to 3.27%, driven by higher loan yields and lower deposit costs, reflecting benefits from securities restructuring and potential for further balance sheet restructurings.

Negative Factors

Loan Growth

Loan growth remains limited and less than a 4% annual pace.

Management

CEO Retirement and Management Changes could introduce uncertainty.

Valuation

The shares are trading at a premium P/E, and incremental multiple expansion seems less likely than peers, contributing to the Neutral rating.

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 products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits 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; and accounts receivable financing and factoring, inventory financing, and purchase order financing services. In addition, it provides credit and debit cards, letter of credits, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and 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. As of December 31, 2021, it operated 121 branches comprising 114 branch offices located in North Carolina and seven branches in South Carolina. First Bancorp was founded in 1934 and is headquartered in Southern Pines, North Carolina.

How the Company Makes Money

First Bancorp generates revenue primarily through interest income from loans and leases it provides to individuals and businesses, as well as from investment securities. The company also earns money from non-interest income streams, such as service charges on deposit accounts, fees from loan originations, and wealth management services. Additionally, First Bancorp benefits from strategic partnerships and collaborations that enhance its product offerings and expand its market reach, contributing to its overall earnings.

First Bancorp Financial Statement Overview

Summary

First Bancorp demonstrates a solid financial position with a strong balance sheet and consistent cash flow generation. However, recent declines in revenue and profitability pose challenges. The company's historical growth and strong equity position suggest resilience and potential for recovery in profitability.

Income Statement

First Bancorp shows a declining revenue trend in the most recent year, with a noticeable decrease from 2023 to 2024. The net profit margin has also decreased, indicating reduced profitability. However, historical data shows periods of strong revenue growth and net income, suggesting potential for recovery.

Balance Sheet

The company's balance sheet is strong, with no total debt in the latest year, improving the debt-to-equity ratio significantly. Stockholders' equity has grown over time, enhancing the equity ratio. A stable asset base supports long-term financial health, although past periods had some leverage.

Cash Flow

Cash flow generation is robust, with positive operating cash flow and free cash flow in 2024, though growth rates have fluctuated. The free cash flow to net income ratio is favorable, supporting liquidity and potential reinvestment. Historical volatility in cash flows poses some risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	538.41M	530.81M	541.11M	407.66M	324.90M	318.48M
Gross Profit	342.64M	327.40M	381.20M	379.16M	300.34M	263.88M
EBITDA	130.25M	116.00M	151.17M	200.55M	134.25M	116.73M
Net Income	87.35M	76.22M	104.13M	146.94M	95.64M	81.48M
Balance Sheet
Total Assets	12.44B	12.15B	12.11B	10.63B	10.51B	7.29B
Cash, Cash Equivalents and Short-Term Investments	2.68B	2.40B	2.43B	2.58B	3.09B	1.82B
Total Debt	14.73M	14.55M	321.67M	237.82M	19.50M	22.99M
Total Liabilities	10.93B	10.70B	10.74B	9.59B	9.28B	6.40B
Stockholders Equity	1.51B	1.45B	1.37B	1.03B	1.23B	893.42M
Cash Flow
Free Cash Flow	246.21M	172.12M	126.97M	225.37M	132.93M	45.97M
Operating Cash Flow	247.47M	174.78M	131.40M	230.65M	142.34M	58.33M
Investing Cash Flow	7.14M	169.67M	-191.37M	-713.36M	-1.27B	-961.54M
Financing Cash Flow	163.99M	-74.80M	27.51M	291.86M	1.23B	1.04B

First Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 45.56
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 45.56 is above the 20-day moving average (MA) of 41.67, above the 50-day MA of 41.26, and above the 200-day MA of 42.03, indicating a bullish trend. The MACD of 0.78 indicates Negative momentum. The RSI at 76.36 is Negative, neither overbought nor oversold. The STOCH value of 90.92 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBNC.

First Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBNC	77 Outperform	$1.89B	21.57	6.03%	2.09%	-2.00%	-23.83%
NWBI	75 Outperform	$1.68B	14.72	7.19%	6.26%	6.30%	-12.43%
NIC	74 Outperform	$1.93B	15.39	11.47%	1.04%	10.78%	28.31%
FCF	73 Outperform	$1.75B	12.37	9.91%	3.33%	6.42%	-15.95%
MBIN	68 Neutral	$1.58B	6.35	14.81%	1.21%	9.73%	-14.72%
Sector *	67 Neutral	$16.85B	11.65	9.71%	3.90%	11.61%	-9.60%
CLBK	52 Neutral	$1.57B	97.23	-0.15%	―	4.29%	-109.93%

First Bancorp Corporate Events

First Bancorp Announces Increased Cash Dividend for Shareholders

On June 13, 2025, First Bancorp announced a cash dividend of $0.23 per share on its common stock, payable on July 25, 2025, to shareholders of record as of June 30, 2025. This decision reflects an increase from the previous quarter’s dividend and highlights the company’s strong first-quarter performance, with solid net income, EPS, credit quality, and capital positions, underscoring its commitment to returning capital to shareholders.

The most recent analyst rating on (FBNC) stock is a Hold with a $49.00 price target. To see the full list of analyst forecasts on First Bancorp stock, see the FBNC Stock Forecast page.