First Bancorp (FBNC) AI Stock Analysis

• Market Cap: $1.67B
• Dividend Yield: 2.18%
• Average Volume (3M): 182.16K
• Price to Earnings (P/E): 21.9
• Beta (1Y): 1.17
• Revenue Growth: -1.53%
• EPS Growth: -27.00%
• Country: US
• Employees: 1,345
• Sector: Financial
• Sector Strength: 82
• Industry: Banks - Regional
• EPS (TTM): 1.84
• Shares Outstanding: 41,339,783
• 10 Day Avg. Volume: 196,946
• 30 Day Avg. Volume: 182,156
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 4.79
• Price to Cash Flow (P/CF): 6.10
• P/FCF Ratio: 6.10
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $50.33
• Price Target Upside: 24.80% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

First Bancorp's overall stock score of 64 reflects a mix of solid financial fundamentals and strategic initiatives against a backdrop of technical weaknesses. The strong balance sheet and cash flow provide a foundation for potential recovery in profitability. The recent leadership change and stock buyback plan are positive developments that could enhance shareholder value. However, bearish technical indicators and a relatively high valuation pose risks to immediate stock performance.

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 makes money primarily through the interest income generated from its lending activities, which include personal loans, business loans, and mortgages. The company also earns revenue from non-interest income sources such as fees for banking services, including account maintenance fees, transaction fees, and service charges. Furthermore, First Bancorp benefits from its investment portfolio and other financial services offered to clients. The company's strategic acquisitions and partnerships within the banking sector help in expanding its market reach and enhancing its revenue streams.

First Bancorp Financial Statement Overview

Summary

First Bancorp's financial health is generally solid 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
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
519.24M	546.25M	392.84M	320.01M	299.47M
	Gross Profit
519.24M	546.25M	392.84M	320.01M	299.47M
	EBIT
-302.96M	145.65M	201.32M	120.32M	103.13M
	EBITDA
0.00	0.00	200.55M	134.25M	116.73M
	Net Income Common Stockholders
76.22M	104.13M	146.94M	95.64M	81.48M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
2.12B	237.85M	270.32M	3.09B	1.82B
	Total Assets
12.15B	12.11B	10.63B	10.51B	7.29B
	Total Debt
14.55M	570.67M	306.90M	88.58M	79.70M
	Net Debt
-78.60M	332.81M	36.58M	-372.58M	-287.59M
	Total Liabilities
10.70B	10.74B	9.59B	9.28B	6.40B
	Stockholders Equity
1.45B	1.37B	1.03B	1.23B	893.42M
Cash Flow		Free Cash Flow
174.78M	126.97M	225.37M	129.50M	44.71M
	Operating Cash Flow
174.78M	131.40M	230.65M	138.90M	57.08M
	Investing Cash Flow
169.67M	-191.37M	-713.36M	-1.27B	-960.28M
	Financing Cash Flow
-74.80M	27.51M	291.86M	1.23B	1.04B

First Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 40.33
• 50DMA: Negative
• 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 FBNC, the sentiment is Negative. The current price of 40.33 is above the 20-day moving average (MA) of 40.03, below the 50-day MA of 41.88, and below the 200-day MA of 41.07, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 44.29 is Neutral, neither overbought nor oversold. The STOCH value of 33.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FBNC.

First Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HOMB	76 Outperform	$5.59B	14.00	10.38%	2.72%	8.83%	3.77%
FNB	74 Outperform	$4.82B	10.59	7.53%	3.58%	15.34%	-3.89%
FBNC	64 Neutral	$1.67B	21.87	5.38%	2.18%	-1.53%	-27.00%
Sector *	64 Neutral	$14.25B	10.26	8.97%	4.33%	16.33%	-11.91%
FULT	62 Neutral	$3.27B	11.44	9.69%	3.84%	21.10%	-4.20%
TRMK	61 Neutral	$2.09B	10.05	2.68%	2.71%	-11.99%	-103.10%
UBSI	61 Neutral	$4.93B	12.50	7.62%	4.30%	6.80%	1.48%

First Bancorp Corporate Events

First Bancorp Announces New CEO and Stock Buyback

On February 6, 2025, First Bancorp announced the promotion of G. Adam Currie to Chief Executive Officer of First Bank, succeeding Michael G. Mayer, who remains President of First Bancorp. This leadership transition is part of a long-term succession plan aimed at positioning the company for future growth. Additionally, First Bancorp’s board has approved a stock repurchase plan for up to $40 million, reflecting confidence in the company’s financial position and commitment to returning value to shareholders.