First Bancorp (FNLC) AI Stock Analysis

• Market Cap: $326.71M
• Dividend Yield: 5.24%
• Average Volume (3M): 23.84K
• Price to Earnings (P/E): 9.2
• Beta (1Y): 0.53
• Revenue Growth: 10.46%
• EPS Growth: 18.70%
• Country: US
• Employees: 284
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.91
• Shares Outstanding: 11,219,320
• 10 Day Avg. Volume: 28,420
• 30 Day Avg. Volume: 23,843
• 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: 2.81
• Enterprise Value/Gross Profit: 5.60
• Enterprise Value/Ebitda: 12.23
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 77 Outperform
• Price Target: $31.00 ▲(9.42% Upside)

The score is driven primarily by improving financial performance (better margins, higher earnings, and stronger free cash flow) and supportive valuation (low P/E and high dividend yield). Technicals add a moderate tailwind with price above key moving averages and positive MACD, though momentum readings are closer to neutral than strongly bullish.

Positive Factors

Sustained revenue growth

Consistent top-line expansion indicates durable loan originations and fee growth across the franchise. A multi-percent revenue increase year-over-year supports longer-term earnings power and underpins investment in branches, digital channels, and relationship banking over the next 2–6 months.

Strong cash generation

Robust and improving free cash flow, roughly 0.92x of net income, signals high earnings quality and internal funding for growth, capital returns, and reserves. This durable cash conversion reduces reliance on external financing and supports sustained dividend capacity and balance sheet flexibility.

Improving capital and ROE

Rising equity and higher ROE reflect strengthened capital generation and more efficient use of capital. This improves resilience to credit cycles, supports organic growth and dividend policy, and provides room for strategic investments without materially increasing leverage.

Negative Factors

Profitability below prior peak

Although margins improved recently, they have not returned to prior cyclical highs. This suggests structural pressure from competition, funding costs, or mix shifts that could limit long-run profitability and ROI relative to the bank’s historical peak performance over the next several quarters.

Inconsistent ratio reporting

Key leverage and coverage metrics being reported as zero undermines confidence in quantitative risk assessment. Persistent data gaps reduce visibility into solvency and leverage trends, complicating durable credit and capital adequacy analysis for investors and regulators over months ahead.

Moderate debt and historical leverage volatility

While current debt appears moderate versus equity, historical leverage swings indicate sensitivity to funding and economic cycles. This raises structural risk that adverse credit or rate environments could pressure capital ratios, margins, or require deleveraging measures over a multi-month horizon.

First Bancorp Business Overview & Revenue Model

Company Description

First Bancorp (FNLC) is a financial holding company headquartered in Maine, primarily engaged in the provision of banking and financial services through its subsidiary, First National Wealth Management and First National Bank. The company operates in the banking sector, offering a range of products including personal and commercial banking services, investment management, and financial planning. With a commitment to serving both individuals and businesses, FNLC emphasizes community-focused banking solutions.

How the Company Makes Money

First Bancorp generates revenue primarily through interest income from loans and investments, as well as fees from various banking services. The company's key revenue streams include interest from consumer and commercial loans, mortgage loans, and credit card services. Additionally, FNLC earns non-interest income from service charges on deposit accounts, wealth management fees, and other financial services. Significant partnerships with local businesses and community organizations further enhance its customer base and revenue opportunities, allowing the bank to provide tailored financial solutions that meet the needs of its clients.

First Bancorp Financial Statement Overview

Summary

Fundamentals are improving: TTM revenue increased to ~$175.8M (vs ~$165.4M in 2024), net margin improved (~21.5% vs ~16.3%), and earnings rose to ~$31.5M. Cash generation is strong with TTM free cash flow of ~$31.4M (up from ~$24.6M in 2024) and good earnings quality (FCF ~0.92x net income). Offsets include profitability still below 2021–2022 peak levels and some TTM ratio data inconsistencies (e.g., debt-to-equity and coverage fields reported as 0.0), which reduces confidence in certain ratio signals despite solid dollar results.

Income Statement

TTM (Trailing-Twelve-Months) revenue rose to ~$175.8M from ~$165.4M in 2024, showing continued top-line expansion. Profitability improved versus 2024 (net margin ~21.5% vs ~16.3%), and earnings increased to ~$31.5M, but margins remain well below the 2021–2022 peak levels, indicating some normalization/pressure versus prior years. Overall, the income profile is solid with recent improvement, but not as strong as the high-water mark period.

Balance Sheet

Equity has grown (to ~$274.6M in TTM from ~$252.5M in 2024), and return on equity is healthy (TTM ~12.7% vs ~10.7% in 2024), signaling improved profitability on capital. Total debt is moderate relative to equity based on the raw levels ($153.0M debt vs $274.6M equity), though leverage has fluctuated historically (elevated in 2020). Also, the TTM debt-to-equity field is reported as 0.0, which appears inconsistent with the debt and equity amounts and limits ratio-based confidence for the most recent period.

Cash Flow

Cash generation is strong and improving: TTM operating cash flow was ~$34.1M and free cash flow ~$31.4M, up from ~$24.6M free cash flow in 2024, with positive TTM free-cash-flow growth. Free cash flow closely tracks earnings (TTM free cash flow is ~0.92x net income), indicating good earnings quality. A reported operating cash flow coverage ratio of 0.0 in TTM (and very small values historically) looks inconsistent with the cash flow levels, so that specific data point is less informative, but the core cash flow trend is constructive.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	175.82M	165.43M	143.62M	109.91M	96.46M	95.24M
Gross Profit	88.12M	79.74M	79.46M	91.29M	86.06M	71.90M
EBITDA	40.37M	34.79M	37.81M	49.37M	45.95M	34.47M
Net Income	31.50M	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	38.84M	324.42M	317.48M	310.93M	407.88M	395.74M
Total Debt	152.97M	146.28M	69.65M	103.48M	136.34M	262.04M
Total Liabilities	2.92B	2.90B	2.70B	2.51B	2.28B	2.14B
Stockholders Equity	274.57M	252.49M	243.08M	228.92M	245.66M	223.73M
Cash Flow
Free Cash Flow	31.09M	24.57M	34.28M	39.81M	52.94M	20.16M
Operating Cash Flow	33.86M	26.05M	36.92M	41.21M	56.69M	22.70M
Investing Cash Flow	-58.72M	-217.42M	-199.81M	-247.58M	-201.75M	-250.07M
Financing Cash Flow	21.33M	187.07M	172.10M	208.46M	139.48M	239.15M

First Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.33
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 above the 20-day moving average (MA) of 27.09, above the 50-day MA of 26.66, and above the 200-day MA of 25.17, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 68.24 is Neutral, neither overbought nor oversold. The STOCH value of 97.04 is Negative, 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	77 Outperform	$326.71M	9.24	11.86%	5.24%	10.46%	18.70%
PLBC	73 Outperform	$365.93M	11.52	12.34%	2.63%	11.98%	-10.12%
PCB	72 Outperform	$336.27M	9.01	9.38%	3.57%	10.93%	42.68%
NECB	71 Outperform	$348.16M	7.57	13.26%	4.11%	-0.72%	-7.24%
CZFS	71 Outperform	$324.91M	8.75	10.88%	3.38%	2.16%	24.43%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
WSBF	63 Neutral	$343.48M	12.56	6.95%	3.59%	-0.09%	83.67%

First Bancorp Corporate Events

First Bancorp Names New Executive Vice President and CIO

First Bancorp, parent of First National Bank, has appointed Brad Martin as Executive Vice President and Chief Information Officer, positioning him to take over technology leadership ahead of current CIO Tammy Plummer’s planned retirement to ensure a smooth transition. Martin brings more than 17 years of financial services and IT experience, including senior technology roles at another Maine-based bank, holds multiple technical and information security certifications, and is active in industry and community committees focused on banking technology and cybersecurity, underscoring the bank’s emphasis on robust, modern IT and cyber capabilities.

The most recent analyst rating on (FNLC) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on First Bancorp stock, see the FNLC Stock Forecast page.

First Bancorp Declares Fourth-Quarter Dividend, Highlights Strong Year

On December 18, 2025, The First Bancorp declared a fourth-quarter cash dividend of $0.37 per share, payable on January 16, 2026 to shareholders of record as of January 6, 2026, closing out what management described as a successful year. Based on the December 17, 2025 closing share price of $28.29, the annualized dividend of $1.48 per share equated to a yield of 5.23%, underscoring the company’s emphasis on returning capital to shareholders and potentially reinforcing its appeal to income-focused investors within the regional banking sector.

The most recent analyst rating on (FNLC) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on First Bancorp stock, see the FNLC Stock Forecast page.