How does FBNC's PE Ratio compare to its peers?

FBNC is expensive based on its Price-To-Earnings Ratio (18x) compared to the peer average (11.9x).

How does FBNC's PE Ratio compare vs other companies in the US Banks Industry?

FBNC is expensive based on its Price-To-Earnings Ratio (18x) compared to the US Banks industry average (12.4x).

What is FBNC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FBNC is expensive based on its Price-To-Earnings Ratio (18x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).

What is the Fair Price of FBNC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

FBNC ($44.24) is trading below our estimate of [[fair value]] ($75.28)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is less than 20% higher than the current share price.

FBNC Stock Overview

Operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses. More details

FBNC fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	2/6
Past Performance	2/6
Financial Health	6/6
Dividends	5/6

Rewards

Trading at 41.2% below our estimate of its fair value

Earnings are forecast to grow 14.93% per year

Pays a reliable dividend of 1.99%

Risk Analysis

Significant insider selling over the past 3 months

My Notes

Capture your thoughts, links and company narrative

First Bancorp Competitors

OFG Bancorp

NYSE:OFG

US$2.0b

First Commonwealth Financial

NYSE:FCF

US$1.7b

City Holding

NasdaqGS:CHCO

US$1.8b

Pathward Financial

NasdaqGS:CASH

US$1.8b

Price History & Performance

Summary of share price highs, lows and changes for First Bancorp
Historical stock prices
Current Share Price	US$44.24
52 Week High	US$50.34
52 Week Low	US$29.53
Beta	1.06
1 Month Change	-6.47%
3 Month Change	9.72%
1 Year Change	19.54%
3 Year Change	-4.43%
5 Year Change	13.15%
Change since IPO	1,392.82%

First Bancorp: Earnings To Grow But Stock Appears Overvalued

Dec 19

Recent updates

First Bancorp: Earnings To Grow But Stock Appears Overvalued

Dec 19

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

Jun 18

Some Shareholders May Object To A Pay Rise For First Bancorp's (NASDAQ:FBNC) CEO This Year

Apr 26

We Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Mar 01

First Bancorp declares $0.22 dividend

Sep 15

First Bancorp upgraded to Overweight at Piper after YTD underperformance

Aug 18

First Bancorp (NASDAQ:FBNC) Is Increasing Its Dividend To US$0.22

Feb 10

Here's Why I Think First Bancorp (NASDAQ:FBNC) Might Deserve Your Attention Today

Dec 28

I Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Aug 11

First Bancorp declares $0.20 dividend

Jun 15

Shareholder Returns

	FBNC	US Banks	US Market
7D	-0.5%	0.1%	-1.1%
1Y	19.5%	28.7%	22.4%

Return vs Industry: FBNC underperformed the US Banks industry which returned 29.4% over the past year.

Return vs Market: FBNC underperformed the US Market which returned 23.7% over the past year.

Price Volatility

Is FBNC's price volatile compared to industry and market?
FBNC volatility
FBNC Average Weekly Movement	5.5%
Banks Industry Average Movement	5.2%
Market Average Movement	6.3%
10% most volatile stocks in US Market	17.6%
10% least volatile stocks in US Market	3.1%

Stable Share Price: FBNC has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: FBNC's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1934	1,421	Richard Moore	localfirstbank.com

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. It 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.

First Bancorp Fundamentals Summary

How do First Bancorp's earnings and revenue compare to its market cap?
FBNC fundamental statistics
Market cap	US$1.84b
Earnings (TTM)	US$101.72m
Revenue (TTM)	US$362.64m

18.0x

P/E Ratio

1.2x

P/B Ratio

Is FBNC overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
FBNC income statement (TTM)
Revenue	US$362.64m
Cost of Revenue	US$0
Gross Profit	US$362.64m
Other Expenses	US$260.92m
Earnings	US$101.72m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	2.46
Gross Margin	100.00%
Net Profit Margin	28.05%
Debt/Equity Ratio	6.2%

How did FBNC perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

35%

Payout Ratio

Does FBNC pay a reliable dividends?

See FBNC dividend history and benchmarks

When do you need to buy FBNC by to receive an upcoming dividend?
First Bancorp dividend dates
Ex Dividend Date	Dec 31 2024
Dividend Pay Date	Jan 25 2025
Days until Ex dividend	0 days
Days until Dividend pay date	25 days

Does FBNC pay a reliable dividends?

See FBNC dividend history and benchmarks

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 02:44
End of Day Share Price	2024/12/30 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Bancorp is covered by 8 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Paul Miller	FBR Capital Markets & Co.
Christopher Marinac	Janney Montgomery Scott LLC
Wood Lay	Keefe, Bruyette, & Woods

FBNC Stock Overview

Rewards

Risk Analysis

First Bancorp Competitors

NYSE:OFG

US$2.0b

NYSE:FCF

US$1.7b

NasdaqGS:CHCO

US$1.8b

NasdaqGS:CASH

US$1.8b

Price History & Performance

Recent News & Updates

Third quarter dividend of US$0.22 announced

First Bancorp: Earnings To Grow But Stock Appears Overvalued

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on January 25, 2025

Price target increased by 8.4% to US$51.63

Lead Independent Director recently sold US$274k worth of stock

Lead Independent Director notifies of intention to sell stock

Recent updates

Third quarter dividend of US$0.22 announced

First Bancorp: Earnings To Grow But Stock Appears Overvalued

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on January 25, 2025

Price target increased by 8.4% to US$51.63

Lead Independent Director recently sold US$274k worth of stock

Lead Independent Director notifies of intention to sell stock

Third quarter 2024 earnings: EPS misses analyst expectations

Price target increased by 9.5% to US$47.63

Price target increased by 13% to US$46.13

Independent Director recently sold US$869k worth of stock

Independent Director notifies of intention to sell stock

Second quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on October 25, 2024

Consensus EPS estimates increase by 12%

First Bancorp Announces Retirement of Mason Y. Garrett as Board of Directors

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 19%

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

First quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on July 25, 2024

First Bancorp Announces Executive Changes

Some Shareholders May Object To A Pay Rise For First Bancorp's (NASDAQ:FBNC) CEO This Year

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First Bancorp, Annual General Meeting, May 02, 2024

Upcoming dividend of US$0.22 per share

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

Fourth quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend, Payable on April 25, 2024

Full year 2023 earnings: EPS exceeds analyst expectations

New minor risk - Profit margin trend

Full year 2023 earnings: EPS exceeds analyst expectations

Price target increased by 7.6% to US$37.13

Upcoming dividend of US$0.22 per share at 2.4% yield

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

First Bancorp Declares Cash Dividend, Payable on January 25, 2024

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.22 per share at 3.2% yield

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on October 25, 2023

Insider recently sold US$1.8m worth of stock

New major risk - Revenue and earnings growth

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

Price target decreased by 8.4% to US$36.65

Upcoming dividend of US$0.22 per share at 2.7% yield

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

First Bancorp Declares Cash Dividend, Payable on July 25, 2023

Investor sentiment improves as stock rises 17%

Consensus EPS estimates fall by 17%

Price target decreased by 9.4% to US$40.55

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.22 per share at 2.5% yield

First Bancorp (NASDAQ:FBNC) Will Pay A Dividend Of $0.22

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

We Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Full year 2022 earnings: Revenues in line with analyst expectations

Upcoming dividend of US$0.22 per share

First Bancorp Announces Cash Dividend, Payable on January 25, 2023

Price target increased to US$50.00

Price target increased to US$50.00