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First Bancorp
(NASDAQ:FBNC)
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Rating:69Neutral
Price Target:
$71.00
▲(11.01% Upside)
Action:Reiterated
Date:09/15/26
FBNC scores as moderately attractive primarily due to financial resilience: very low leverage, improving ROE, and strong free cash flow generation with high cash conversion. Offsetting this is weaker recent operating performance (sharp TTM revenue decline and margin compression). Technicals are broadly neutral with mild support from trading above key moving averages, while valuation is only average given a ~20 P/E and modest ~1.45% yield. The recent dividend action supports a stability narrative, though loan mix shifts increase exposure to CRE-related risks.
Positive Factors
Conservative balance sheet
Very low leverage and a growing equity base provide First Bancorp with financial resilience and flexibility. This conservative funding profile can help the bank absorb credit or earnings volatility while preserving capacity to support customers and pursue measured growth.
Negative Factors
Sharp revenue contraction
A sharp TTM revenue decline indicates pressure on the bank’s core earning capacity, even though bottom-line margins remain positive. If sustained, weaker revenue can constrain organic growth, reduce operating leverage, and make future profitability more dependent on cost control.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and a growing equity base provide First Bancorp with financial resilience and flexibility. This conservative funding profile can help the bank absorb credit or earnings volatility while preserving capacity to support customers and pursue measured growth.
Read all positive factors
First Bancorp Key Performance Indicators (KPIs)
Any
Loan Portfolio By Industry
Analyzes the distribution of loans across different industries, highlighting exposure to various sectors and potential risk or growth opportunities based on economic trends and industry performance.
Analyzes the distribution of loans across different industries, highlighting exposure to various sectors and potential risk or growth opportunities based on economic trends and industry performance.
Data provided by:
The Fly
The FlyFirst Bancorp (FBNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.55B
Dividend Yield1.56%
Average Volume (3M)232.12K
Price to Earnings (P/E)15.4
Beta (1Y)0.86
Revenue Growth4.15%
EPS Growth36.83%
CountryUS
Employees1,374
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.22
Shares Outstanding41,399,235
10 Day Avg. Volume174,845
30 Day Avg. Volume232,120
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)1.27
Price to Sales (P/S)3.87
P/FCF Ratio10.56
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue5.78
Enterprise Value/Gross Profit9.09
Enterprise Value/Ebitda39.98
Forecast
1Y Price Target
$68.67Price Target Upside7.36% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)4.58
Revenue Forecast (FY)$512.71M
First Bancorp Business Overview & Revenue Model
Company Description
First Bancorp (FBNC) functions as the parent company of First Bank, offering a diverse array of financial solutions to individuals and small to medium-sized businesses. Its operational focus is primarily within North Carolina and the northeastern ...
How the Company Makes Money
First Bancorp makes money primarily through banking spread and fee-based activities. Its largest earnings driver is typically net interest income: the bank earns interest and loan-related income on interest-earning assets (notably commercial and c...
First Bancorp Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
82
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 428.00M | 543.12M | 530.81M | 541.11M | 407.66M | 324.90M |
| Gross Profit | 272.13M | 380.81M | 327.40M | 381.20M | 379.16M | 300.34M |
| EBITDA | 61.85M | 159.16M | 116.00M | 151.17M | 200.55M | 134.25M |
| Net Income | 133.25M | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M |
Balance Sheet | ||||||
| Total Assets | 13.04B | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Cash, Cash Equivalents and Short-Term Investments | 2.07B | 2.20B | 2.40B | 2.43B | 2.58B | 3.09B |
| Total Debt | 74.72M | 74.57M | 14.55M | 321.67M | 237.82M | 19.50M |
| Total Liabilities | 11.33B | 11.01B | 10.70B | 10.74B | 9.59B | 9.28B |
| Stockholders Equity | 1.72B | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
Cash Flow | ||||||
| Free Cash Flow | 226.98M | 198.89M | 172.12M | 126.97M | 225.37M | 132.93M |
| Operating Cash Flow | 232.50M | 203.13M | 174.78M | 131.40M | 230.65M | 142.34M |
| Investing Cash Flow | -581.36M | -562.07M | 169.67M | -191.37M | -713.36M | -1.27B |
| Financing Cash Flow | 187.90M | 161.03M | -74.80M | 27.51M | 291.86M | 1.23B |
First Bancorp Technical Analysis
Positive
63.96
Price Trends
62.73
Negative
62.53
Negative
59.81
Positive
Market Momentum
-0.62
Negative
48.73
Neutral
72.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBNC, the sentiment is Positive. The current price of 63.96 is above the 20-day moving average (MA) of 60.86, above the 50-day MA of 62.73, and above the 200-day MA of 59.81, indicating a neutral trend. The MACD of -0.62 indicates Negative momentum. The RSI at 48.73 is Neutral, neither overbought nor oversold. The STOCH value of 72.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBNC.
First Bancorp Risk Analysis
First Bancorp disclosed 27 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 0 New Risks
First Bancorp Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $938.33M | 15.20 | 11.44% | 4.68% | 5.32% | 16.00% | |
75 Outperform | $3.31B | 10.03 | 11.66% | 5.03% | 34.95% | 54.57% | |
72 Outperform | $4.28B | 30.13 | 4.03% | 2.82% | -18.50% | -52.84% | |
69 Neutral | $2.55B | 15.38 | 9.70% | 1.56% | 4.15% | 36.83% | |
69 Neutral | $568.97M | 12.14 | 10.39% | ― | 8.99% | 52.74% | |
68 Neutral | $2.58B | 11.50 | 11.98% | 1.57% | 26.41% | 110.85% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FBNC
First Bancorp
61.04
14.16
30.19%
FCBC
First Community Bancshares
48.34
17.29
55.69%
SFST
Southern First Bancshares
60.07
18.09
43.09%
TOWN
TowneBank
35.82
4.66
14.97%
UCB
United Community Banks
35.85
6.89
23.80%
FBK
FB Financial
52.10
-1.70
-3.16%
First Bancorp Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
First Bancorp Declares Quarterly Cash Dividend, Signals Stability
Positive
Sep 15, 2026
On September 15, 2026, First Bancorp announced that its board of directors had declared a cash dividend of $0.24 per share on its common stock, payable on October 23, 2026, to shareholders of record as of September 30, 2026. The move continues the...
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.