First Bancorp (FNLC) AI Stock Analysis

• Market Cap: $300.44M
• Dividend Yield: 5.41%
• Average Volume (3M): 18.41K
• Price to Earnings (P/E): 10.3
• Beta (1Y): 0.62
• Revenue Growth: 12.08%
• EPS Growth: 9.69%
• Country: US
• Employees: 284
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.63
• Shares Outstanding: 11,210,588
• 10 Day Avg. Volume: 23,970
• 30 Day Avg. Volume: 18,406
• PEG Ratio: -1.30
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 1.83
• P/FCF Ratio: 12.30
• Enterprise Value/Market Cap: 1.51
• Enterprise Value/Revenue: 2.63
• Enterprise Value/Gross Profit: 5.31
• Enterprise Value/Ebitda: 11.79
• 1Y Price Target: $31.00
• Price Target Upside: 15.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 78 Outperform
• Price Target: $31.00 ▲(15.67% Upside)

First Bancorp's stock is rated positively due to its strong valuation metrics, including a low P/E ratio and high dividend yield. Technical analysis supports a bullish outlook with positive momentum indicators. Financial performance is solid, though rising debt levels and cash flow volatility require monitoring.

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 interest income from loans and investment securities, as well as non-interest income derived from service charges, fees, and wealth management services. The company earns interest income by lending to consumers and businesses, with loans making up a significant portion of its assets. Additionally, FNLC receives fees from its deposit accounts and other banking services, contributing to its non-interest income. The bank's commitment to community banking and customer service has fostered strong relationships, leading to customer loyalty and steady deposit growth. Strategic partnerships with other financial institutions and investment firms may also enhance FNLC's service offerings, which can further contribute to its overall earnings.

First Bancorp Financial Statement Overview

Summary

First Bancorp demonstrates strong financial health with consistent revenue growth, solid profitability, and efficient cash flow management. The balance sheet indicates moderate leverage, although the low equity ratio warrants cautious monitoring. Overall, the company is well-positioned for continued financial stability with its effective cost management and strong cash generation.

Income Statement

The company exhibits a strong financial performance with growing revenues and consistent profitability. The Gross Profit Margin for TTM is 48.45%, indicating efficient cost management. The Net Profit Margin is 16.58%, reflecting solid bottom-line performance. Revenue has shown a healthy growth rate of 15.68% from 2023 to 2024, indicating a positive trajectory. However, there is a slight decrease in EBIT margin to 19.99% for TTM, and EBITDA margin stands at 21.29%, suggesting room for improvement in operational efficiency.

Balance Sheet

The balance sheet is stable with a Debt-to-Equity Ratio of 0.71, showing a moderate level of leverage. The Equity Ratio is 8.15%, highlighting a conservative capital structure. Return on Equity (ROE) is impressive at 10.82% for TTM, demonstrating effective utilization of shareholder equity. However, the relatively low equity ratio suggests limited asset financing through equity, which might pose a risk if leverage increases.

Cash Flow

The cash flow statement reflects robust cash generation capabilities. The Free Cash Flow to Net Income Ratio is 0.97, indicating efficient conversion of income into cash. The Operating Cash Flow to Net Income Ratio is 1.06 for TTM, emphasizing strong cash flow from operations. Despite a decrease in Free Cash Flow Growth Rate, the company's cash generation remains strong, providing financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	172.75M	165.43M	143.62M	109.91M	96.46M	95.24M
Gross Profit	85.45M	79.74M	79.46M	91.29M	86.06M	71.90M
EBITDA	38.47M	34.79M	37.81M	49.37M	45.95M	34.47M
Net Income	29.99M	27.05M	29.52M	38.99M	36.27M	27.13M
Balance Sheet
Total Assets	3.20B	3.16B	2.95B	2.74B	2.53B	2.36B
Cash, Cash Equivalents and Short-Term Investments	305.61M	324.42M	317.48M	310.93M	407.88M	395.74M
Total Debt	196.17M	146.28M	69.65M	103.48M	136.34M	262.04M
Total Liabilities	2.93B	2.90B	2.70B	2.51B	2.28B	2.14B
Stockholders Equity	265.49M	252.49M	243.08M	228.92M	245.66M	223.73M
Cash Flow
Free Cash Flow	28.14M	24.57M	34.28M	39.81M	52.94M	20.16M
Operating Cash Flow	30.71M	26.05M	36.92M	41.21M	56.69M	22.70M
Investing Cash Flow	-108.67M	-217.42M	-199.81M	-247.58M	-201.75M	-250.07M
Financing Cash Flow	77.50M	187.07M	172.10M	208.46M	139.48M	239.15M

First Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 26.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 26.8 is below the 20-day moving average (MA) of 26.93, above the 50-day MA of 26.36, and above the 200-day MA of 25.14, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 51.44 is Neutral, neither overbought nor oversold. The STOCH value of 19.86 is Positive, 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	$300.44M	10.34	11.76%	5.41%	12.08%	9.69%
PCB	78 Outperform	$304.07M	9.93	7.09%	3.68%	11.93%	29.49%
CBAN	74 Outperform	$308.19M	11.18	9.41%	2.59%	7.07%	24.85%
SFST	73 Outperform	$369.11M	16.74	6.33%	―	4.79%	58.67%
CZFS	72 Outperform	$295.60M	9.34	9.28%	3.21%	2.41%	15.34%
OBT	70 Outperform	$342.76M	10.03	11.70%	2.01%	6.60%	-16.86%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

First Bancorp Corporate Events

First Bancorp Announces Increased Quarterly Dividend

On June 26, 2025, The First Bancorp announced a quarterly cash dividend of 37 cents per share, payable on July 18, 2025, to shareholders of record as of July 8, 2025. This marks an increase of one cent per share from previous quarters, continuing the company’s 11-year trend of raising dividends. The dividend increase reflects the Board’s commitment to shareholder participation in the company’s success, offering an attractive yield of 5.99% based on the closing share price of $24.70 on June 25, 2025.