First Bancorp
Market Cap
US$312.0m
Last Updated
2021/03/06 23:28 UTC
Data Sources
Company Financials
Executive Summary
The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. More Details
Rewards
Risk Analysis
No risks detected for FNLC from our risk checks.
Snowflake Analysis
Flawless balance sheet established dividend payer.
Similar Companies
Share Price & News
How has First Bancorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FNLC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: FNLC's weekly volatility has decreased from 10% to 5% over the past year.
Market Performance
7 Day Return
11.1%
FNLC
4.5%
US Banks
-0.4%
US Market
1 Year Return
12.1%
FNLC
35.5%
US Banks
36.2%
US Market
Return vs Industry: FNLC underperformed the US Banks industry which returned 35.4% over the past year.
Return vs Market: FNLC underperformed the US Market which returned 36.3% over the past year.
Shareholder returns
| FNLC | Industry | Market | |
|---|---|---|---|
| 7 Day | 11.1% | 4.5% | -0.4% |
| 30 Day | 13.2% | 12.1% | -2.3% |
| 90 Day | 10.9% | 25.4% | 5.0% |
| 1 Year | 18.4%12.1% | 40.3%35.5% | 39.1%36.2% |
| 3 Year | 13.5%-1.0% | 13.1%3.4% | 48.4%39.0% |
| 5 Year | 85.8%50.2% | 100.7%75.2% | 116.6%92.4% |
Long-Term Price Volatility Vs. Market
How volatile is First Bancorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Is The First Bancorp, Inc. (NASDAQ:FNLC) A Smart Choice For Dividend Investors?1 month ago | Simply Wall St
What Is The Ownership Structure Like For The First Bancorp, Inc. (NASDAQ:FNLC)?2 months ago | Simply Wall St
Why You Might Be Interested In The First Bancorp, Inc. (NASDAQ:FNLC) For Its Upcoming DividendValuation
Is First Bancorp undervalued compared to its fair value and its price relative to the market?
14.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FNLC ($28.4) is trading below our estimate of fair value ($33.26)
Significantly Below Fair Value: FNLC is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: FNLC is good value based on its PE Ratio (11.4x) compared to the US Banks industry average (13.1x).
PE vs Market: FNLC is good value based on its PE Ratio (11.4x) compared to the US market (21.5x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FNLC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FNLC is overvalued based on its PB Ratio (1.4x) compared to the US Banks industry average (1.1x).
Next Steps
Future Growth
How is First Bancorp forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
14.1%
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First Bancorp has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
Next Steps
- Examine whether First Bancorp is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
- Explore growth companies in the Banks industry.
Past Performance
How has First Bancorp performed over the past 5 years?
11.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FNLC has high quality earnings.
Growing Profit Margin: FNLC's current net profit margins (37.7%) are lower than last year (39%).
Past Earnings Growth Analysis
Earnings Trend: FNLC's earnings have grown by 11.2% per year over the past 5 years.
Accelerating Growth: FNLC's earnings growth over the past year (6.3%) is below its 5-year average (11.2% per year).
Earnings vs Industry: FNLC earnings growth over the past year (6.3%) exceeded the Banks industry 0.5%.
Return on Equity
High ROE: FNLC's Return on Equity (12.1%) is considered low.
Next Steps
Financial Health
How is First Bancorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: FNLC's Assets to Equity ratio (10.6x) is moderate.
Allowance for Bad Loans: FNLC has a sufficient allowance for bad loans (169%).
Low Risk Liabilities: 86% of FNLC's liabilities are made up of primarily low risk sources of funding.
Loan Level: FNLC has an appropriate level of Loans to Assets ratio (62%).
Low Risk Deposits: FNLC's Loans to Deposits ratio (79%) is appropriate.
Level of Bad Loans: FNLC has an appropriate level of bad loans (0.6%).
Next Steps
Dividend
What is First Bancorp current dividend yield, its reliability and sustainability?
4.37%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FNLC's dividend (4.37%) is higher than the bottom 25% of dividend payers in the US market (1.31%).
High Dividend: FNLC's dividend (4.37%) is in the top 25% of dividend payers in the US market (3.64%)
Stability and Growth of Payments
Stable Dividend: FNLC's dividends per share have been stable in the past 10 years.
Growing Dividend: FNLC's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (49.2%), FNLC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
11.6yrs
Average board tenure
CEO
Tony McKim (53 yo)
6.17yrs
Tenure
US$1,043,326
Compensation
Mr. Tony C. McKim has been the Chief Executive Officer of First National Bank and The First Bancorp, Inc. since January 5, 2015. Mr. McKim has been the President of The First Bancorp, Inc. and First Nation...
CEO Compensation Analysis
Compensation vs Market: Tony's total compensation ($USD1.04M) is below average for companies of similar size in the US market ($USD1.52M).
Compensation vs Earnings: Tony's compensation has been consistent with company performance over the past year.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.17yrs | US$1.04m | 0.99% $ 3.1m | |
| Independent Director | 24.17yrs | US$31.50k | 1.0% $ 3.1m | |
| Independent Director | 34.17yrs | US$27.90k | 2.99% $ 9.3m | |
| Director | 2.92yrs | US$32.10k | 0.40% $ 1.2m | |
| Independent Director | 22.17yrs | US$31.50k | 0.20% $ 624.0k | |
| Independent Chairman of the Board | 2.92yrs | US$39.50k | 1.58% $ 4.9m | |
| Independent Director | 7.08yrs | US$30.30k | 0.072% $ 225.0k | |
| Independent Director | 5.17yrs | US$41.10k | 0.057% $ 178.6k |
11.6yrs
Average Tenure
67yo
Average Age
Experienced Board: FNLC's board of directors are seasoned and experienced ( 11.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
The First Bancorp, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: The First Bancorp, Inc.
- Ticker: FNLC
- Exchange: NasdaqGS
- Founded: 1864
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$311.958m
- Shares outstanding: 10.98m
- Website: https://www.thefirst.com
Number of Employees
Location
- The First Bancorp, Inc.
- 223 Main Street
- Damariscotta
- Maine
- 4543
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FNLC | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jul 1999 |
Biography
The First Bancorp, Inc. operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. The company offers various depo...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/06 23:28 |
| End of Day Share Price | 2021/03/05 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.