First Bancorp (FNLC) AI Stock Analysis

• Market Cap: $275.58M
• Dividend Yield: 5.85%
• Average Volume (3M): 13.65K
• Price to Earnings (P/E): 9.8
• Beta (1Y): 0.57
• Revenue Growth: 13.25%
• EPS Growth: 1.46%
• Country: US
• Employees: 284
• Sector: Financial
• Sector Strength: 79
• Industry: Banks - Regional
• EPS (TTM): 0.63
• Shares Outstanding: 11,202,313
• 10 Day Avg. Volume: 11,835
• 30 Day Avg. Volume: 13,651
• PEG Ratio: 1.16
• Price to Book (P/B): 1.43
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.22
• Enterprise Value/Market Cap: 1.47
• Enterprise Value/Revenue: 0.78
• Enterprise Value/Gross Profit: 3.29
• Enterprise Value/Ebitda: 7.35
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 78 Outperform
• Price Target: ―

First Bancorp demonstrates strong financial performance with robust profitability and cash flows, supported by effective equity utilization and low leverage. The valuation is attractive due to a low P/E ratio and high dividend yield, providing a compelling case for investors seeking value and income. Although technical indicators suggest stability, momentum is limited. The corporate event enhances long-term strategic positioning but does not significantly impact the immediate stock performance.

First Bancorp Business Overview & Revenue Model

Company Description

The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts. The company also provides commercial real estate loan products, such as mortgage loans to finance investments in real property comprising multi-family residential, commercial/retail, office, industrial, hotel, educational, and other specific or mixed use properties; commercial construction loans to finance construction of owner- and non-owner occupied commercial real estate properties; and other commercial loans, which include revolving and term loan obligations to business and corporate enterprises for the purpose of financing working capital or capital investment. In addition, it offers municipal loans for capitalized expenditures, construction projects, or tax-anticipation notes; residential term loans that include amortizing home mortgages and construction loans, which include loans for owner-occupied residential construction; home equity loans and lines of credit; and consumer loans, which are amortizing loans to individuals collateralized by automobiles, pleasure crafts, and recreation vehicles, as well as unsecured short-term time notes. Further, the company provides private banking, financial planning, investment management, and trust services to individuals, businesses, non-profit organizations, and municipalities, as well as payment processing services. It operates through 18 full-service banking offices in Lincoln, Knox, Waldo, Penobscot, Hancock, and Washington counties in the Mid-Coast, Eastern, and Down East regions of Maine. The company was formerly known as First National Lincoln Corporation and changed its name to The First Bancorp, Inc. in April 2008. The First Bancorp, Inc. was founded in 1864 and is based in Damariscotta, Maine.

How the Company Makes Money

First Bancorp generates revenue primarily through the interest income earned on loans and investments. The company extends various types of loans, including residential mortgages, commercial real estate loans, and consumer loans, which contribute significantly to its interest-based income. In addition to interest income, FNLC earns non-interest income through service charges on deposit accounts, fees for wealth management and investment advisory services, and income from card processing services. The company also benefits from strategic partnerships with financial technology firms to enhance its service offerings, contributing to its revenue growth. Factors such as prevailing interest rates, economic conditions, and regulatory requirements also impact its earnings.

First Bancorp Financial Statement Overview

Summary

First Bancorp exhibits strong financial health with robust profitability and stable cash flows. The company's low leverage and effective equity utilization underpin its financial stability. While the income statement reflects strong revenue and profit growth, attention should be given to managing operating costs to sustain margins. The balance sheet's low equity ratio suggests maintaining a prudent approach to leverage and asset management.

Income Statement

The income statement shows strong profitability with a high net profit margin of 18.18% in the latest year. Revenue growth is robust, increasing significantly year-over-year. The gross profit margin remains strong at 100% due to the nature of the banking industry. However, the EBIT margin has decreased slightly, indicating higher operating costs.

Balance Sheet

The balance sheet indicates a solid equity base with a low debt-to-equity ratio, reflecting minimal leverage. The equity ratio stands at 8.19%, showing a stable capital structure. Return on equity is excellent at 10.83%, indicating effective use of equity to generate profits. However, the relatively low stockholders' equity poses a potential risk to financial stability if asset values fluctuate.

Cash Flow

Cash flow from operations is strong, demonstrating effective cash generation from core activities. The free cash flow to net income ratio is favorable, indicating good conversion of profits into cash. Free cash flow growth is positive, despite some volatility in investing cash flows. Overall, the cash flow position supports ongoing operations and strategic initiatives.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
164.11M	79.46M	93.04M	85.69M	77.95M
	Gross Profit
80.50M	79.46M	93.04M	85.69M	77.95M
	EBIT
3.09B	34.04M	66.17M	43.91M	32.25M
	EBITDA
0.00	36.15M	47.13M	40.51M	29.73M
	Net Income Common Stockholders
27.05M	29.52M	38.99M	36.27M	27.13M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
300.87M	311.09M	310.93M	407.88M	395.74M
	Total Assets
3.16B	2.95B	2.74B	2.53B	2.36B
	Total Debt
95.00M	20.08M	103.48M	136.34M	262.04M
	Net Debt
45.26M	-15.35M	77.06M	49.03M	179.68M
	Total Liabilities
2.90B	2.70B	2.51B	136.34M	2.14B
	Stockholders Equity
252.49M	243.08M	228.92M	245.66M	223.73M
Cash Flow		Free Cash Flow
24.57M	34.28M	39.81M	52.94M	20.16M
	Operating Cash Flow
26.05M	36.92M	41.21M	56.69M	22.70M
	Investing Cash Flow
-217.42M	-199.81M	-247.58M	-201.75M	-250.07M
	Financing Cash Flow
187.07M	172.10M	208.46M	139.48M	239.15M

First Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 24.60
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNLC, the sentiment is Positive. The current price of 24.6 is above the 20-day moving average (MA) of 24.42, above the 50-day MA of 24.21, and below the 200-day MA of 25.77, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 53.01 is Neutral, neither overbought nor oversold. The STOCH value of 57.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FNLC.

First Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FNLC	78 Outperform	$275.58M	9.78	11.19%	5.85%	13.25%	1.46%
CZFS	75 Outperform	$292.62M	10.28	9.62%	3.22%	9.53%	63.45%
PCB	75 Outperform	$287.62M	10.36	7.60%	3.98%	14.10%	11.51%
OBT	74 Outperform	$321.45M	10.16	14.76%	2.12%	6.08%	-23.52%
CBAN	72 Outperform	$278.22M	11.13	9.20%	2.88%	6.61%	14.29%
SFST	69 Neutral	$299.88M	16.49	5.60%	―	8.57%	37.95%
Sector *	64 Neutral	$12.85B	9.81	7.79%	78.20%	12.23%	-7.93%

First Bancorp Corporate Events

First Bancorp Elects Ingrid Kachmar to Board

On February 18, 2025, Ingrid Wilbur Kachmar was elected to the Board of Directors of The First Bancorp and its subsidiary, First National Bank, until the 2025 Annual Meeting of Shareholders. Mrs. Kachmar, who has extensive experience in community service and business, is expected to bring valuable insight and perspective to the board, enhancing the operations and community-focused initiatives of the bank.

First Bancorp Appoints Christopher Austin as New Clerk

The First Bancorp announced the appointment of Christopher J. Austin as Clerk of the Company, following the retirement of Susan A. Norton on February 14, 2025. Mr. Austin, who joined First National Bank in 2024, will continue his role as Executive Vice President and Chief Legal Counsel, potentially influencing the company’s legal and executive strategies.

First Bancorp Announces Executive Management Changes

First Bancorp has announced changes to its executive management team following the planned retirement of Susan A. Norton on February 14, 2025. Jody Brown has been elevated to Executive Vice President, Chief Risk Officer, while Marcia Benner has been promoted to Executive Vice President, Chief Administrative Officer, reflecting the company’s strategic emphasis on leadership continuity and stability.