The First Bancorp Inc (FNLC)
NASDAQ:FNLC
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First Bancorp
(NASDAQ:FNLC)
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Rating:70Outperform
Price Target:
$31.00
â–²(9.42% Upside)
Action:ReiteratedDate:05/02/26
FNLC scores well overall due to attractive valuation (low P/E and high dividend yield) and generally solid operating performance with steady revenue growth. The score is held back by financial-quality watch items—recent debt build and volatile cash flows (including an outsized 2025 spike)—and only neutral-to-mixed technical momentum.
Positive Factors
Steady Revenue Growth
Sustained top-line expansion through 2023–2025 implies the bank is growing lending, deposits or fee income across cycles. Durable revenue momentum supports scale economies, funds provisioning and investment in digital/branch capabilities, improving multi-quarter earnings resilience.
Negative Factors
Rising Debt Since 2023
A marked uptick in debt since 2023 raises leverage and reduces financial flexibility. Higher indebtedness can increase funding cost sensitivity, limit capacity for organic growth or acquisitions, and heighten capital management tradeoffs during stress or tightening credit conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Steady Revenue Growth
Sustained top-line expansion through 2023–2025 implies the bank is growing lending, deposits or fee income across cycles. Durable revenue momentum supports scale economies, funds provisioning and investment in digital/branch capabilities, improving multi-quarter earnings resilience.
Read all positive factors
First Bancorp (FNLC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$325.60M
Dividend Yield5.24%
Average Volume (3M)18.46K
Price to Earnings (P/E)8.7
Beta (1Y)0.56
Revenue Growth5.29%
EPS Growth28.70%
CountryUS
Employees284
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.80
Shares Outstanding11,270,319
10 Day Avg. Volume17,456
30 Day Avg. Volume18,457
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)1.03
Price to Sales (P/S)1.65
P/FCF Ratio8.47
Enterprise Value/Market Cap1.51
Enterprise Value/Revenue2.77
Enterprise Value/Gross Profit5.30
Enterprise Value/Ebitda11.30
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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,...
How the Company Makes Money
First Bancorp primarily makes money through its banking subsidiary by earning net interest income and generating fee-based (noninterest) income. Net interest income is the largest driver for most community banks and comes from the spread between (...
First Bancorp Key Performance Indicators (KPIs)
First Bancorp Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 177.61M | 165.43M | 143.62M | 109.91M | 96.46M |
| Gross Profit | 92.87M | 79.74M | 79.46M | 91.29M | 86.06M |
| EBITDA | 41.94M | 34.79M | 37.81M | 49.37M | 45.95M |
| Net Income | 34.39M | 27.05M | 29.52M | 38.99M | 36.27M |
Balance Sheet | |||||
| Total Assets | 3.17B | 3.16B | 2.95B | 2.74B | 2.53B |
| Cash, Cash Equivalents and Short-Term Investments | 296.38M | 324.42M | 317.48M | 310.93M | 407.88M |
| Total Debt | 187.82M | 146.28M | 69.65M | 103.48M | 136.34M |
| Total Liabilities | 2.88B | 2.90B | 2.70B | 2.51B | 2.28B |
| Stockholders Equity | 283.14M | 252.49M | 243.08M | 228.92M | 245.66M |
Cash Flow | |||||
| Free Cash Flow | 34.59M | 24.57M | 34.28M | 39.81M | 52.94M |
| Operating Cash Flow | 37.81M | 26.05M | 36.92M | 41.21M | 56.69M |
| Investing Cash Flow | -3.00M | -217.42M | -199.81M | -247.58M | -201.75M |
| Financing Cash Flow | -34.67M | 187.07M | 172.10M | 208.46M | 139.48M |
First Bancorp Technical Analysis
Positive
28.33
Price Trends
28.09
Positive
27.20
Positive
26.08
Positive
Market Momentum
0.45
Negative
61.47
Neutral
45.44
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 28.33 is below the 20-day moving average (MA) of 28.35, above the 50-day MA of 28.09, and above the 200-day MA of 26.08, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 61.47 is Neutral, neither overbought nor oversold. The STOCH value of 45.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FNLC.
First Bancorp Risk Analysis
First Bancorp disclosed 32 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 1 New Risks
1.
We may be adversely affected by volatility in United States and global economic conditions and changes in fiscal, monetary, trade, and regulatory policies. Q4, 2025
First Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $346.25M | 7.46 | 10.43% | 3.57% | 8.84% | 43.48% | |
75 Outperform | $294.78M | 7.07 | 11.89% | 3.38% | 3.42% | 38.40% | |
71 Outperform | $333.64M | 7.88 | 13.07% | 4.11% | -4.89% | -7.62% | |
71 Outperform | $356.06M | 8.73 | 13.34% | 2.63% | 21.59% | -4.49% | |
70 Outperform | $325.60M | 8.65 | 13.08% | 5.24% | 5.29% | 28.70% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | $328.73M | 13.06 | 7.67% | 3.59% | 3.42% | 63.88% |
* Financial Sector Average
FNLC
First Bancorp
28.89
5.57
23.87%
NECB
Northeast Community Bancorp
24.15
1.81
8.11%
PLBC
Plumas Bancorp
51.05
8.41
19.71%
WSBF
Waterstone Financial
18.10
6.20
52.14%
CZFS
Citizens Financial Services
61.32
6.69
12.25%
PCB
PCB Bancorp
24.33
5.13
26.70%
First Bancorp Corporate Events
Shareholder Meetings
First Bancorp Announces Results of Recent Shareholder Vote
Neutral
May 1, 2026
First Bancorp reported developments related to its operations as disclosed on page 1 of its latest communication, but the specific financial figures, strategic actions, or detailed outcomes are not available in the provided excerpt. As a result, a...
Executive/Board Changes
First Bancorp Names Cornelius Russell New Board Chair
Positive
May 1, 2026
On April 29, 2026, The First Bancorp announced that its board of directors elected Cornelius “Connie” Russell as chair of the board, marking a leadership transition at the parent company of First National Bank. Russell, a director sinc...
Business Operations and StrategyRegulatory Filings and Compliance
First Bancorp Updates Corporate Bylaws and Governance Framework
Neutral
May 1, 2026
On April 29, 2026, First Bancorp amended its corporate bylaws, formalizing governance changes approved by the company on that date. The revisions, documented in an updated bylaws document, signal an adjustment to the firm’s governing framewo...
Dividends
First Bancorp Declares Q1 Dividend, Highlights Shareholder Focus
Positive
Mar 26, 2026
On March 26, 2026, The First Bancorp declared a first-quarter cash dividend of $0.37 per share, payable on April 17, 2026, to shareholders of record as of April 7, 2026. Based on the March 25, 2026 closing share price of $27.88, the annualized div...
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.