NasdaqGS:FNLC

Stock Analysis Report

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.

Snowflake

Fundamentals

Excellent balance sheet established dividend payer.

Risks

  • First Bancorp is not covered by any analysts.

Share Price & News

How has First Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

NasdaqGS:FNLC

3.3%

US Banks

2.1%

US Market


1 Year Return

-16.0%

NasdaqGS:FNLC

-13.8%

US Banks

-0.04%

US Market

FNLC underperformed the Banks industry which returned -14.8% over the past year.

FNLC underperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

FNLCIndustryMarket
7 Day-1.6%3.3%2.1%
30 Day-3.9%-7.0%-3.2%
90 Day-3.2%-2.3%2.8%
1 Year-12.3%-16.0%-11.3%-13.8%2.2%-0.04%
3 Year26.8%12.9%42.5%32.7%41.5%32.3%
5 Year82.5%48.2%54.2%37.6%55.0%37.8%

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

Valuation

Is First Bancorp undervalued based on future cash flows and its price relative to the stock market?

10.87x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

First Bancorp's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

First Bancorp's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

First Bancorp is good value based on earnings compared to the US Banks industry average.

First Bancorp is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for First Bancorp, we can't assess if its growth is good value.


Price Based on Value of Assets

First Bancorp is overvalued based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is First Bancorp expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

-0.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if First Bancorp is high growth as no revenue estimate data is available.

First Bancorp's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Unable to compare First Bancorp's revenue growth to the United States of America market average as no estimate data is available.

First Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.

First Bancorp's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if First Bancorp will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has First Bancorp performed over the past 5 years?

11.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Bancorp's year on year earnings growth rate has been positive over the past 5 years.

First Bancorp's 1-year earnings growth exceeds its 5-year average (16.6% vs 11%)

First Bancorp's earnings growth has not exceeded the US Banks industry average in the past year (16.6% vs 33.2%).


Return on Equity

First Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Bancorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


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

Information is not available.

Information is not available.


Financial Institutions Analysis

First Bancorp has an acceptable proportion of non-loan assets held.

First Bancorp has a low allowance for bad loans.

First Bancorp's liabilities are made up of primarily low risk sources of funding.

First Bancorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First Bancorp are broadly funded by customer deposits.

First Bancorp has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is First Bancorp's current dividend yield, its reliability and sustainability?

4.80%

Current Dividend Yield


Dividend Yield and Payments Analysis

First Bancorp's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

First Bancorp's dividend is above the markets top 25% of dividend payers in United States of America (3.84%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (2x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First Bancorp's salary, the management and board of directors tenure and is there insider trading?

4.6yrs

Average management tenure


CEO

Tony McKim (52yo)

4.6yrs

Tenure

US$858,076

Compensation

Mr. Tony C. McKim has been the Chief Executive Officer of First National Bank and The First Bancorp, Inc. since January 02, 2015. Mr. McKim has been the President of The First Bancorp, Inc. and First Natio ...


CEO Compensation Analysis

Tony's remuneration is lower than average for companies of similar size in United States of America.

Tony's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

4.6yrs

Average Tenure

56.5yo

Average Age

The tenure for the First Bancorp management team is about average.


Board Age and Tenure

14.6yrs

Average Tenure

66yo

Average Age

The average tenure for the First Bancorp board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

First Bancorp individual insiders have sold more shares than they have bought in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

SellUS$10108 Aug 19
Steven Parady
EntityIndividual
Shares4
Max PriceUS$25.25
BuyUS$4,97008 Aug 19
Steven Parady
EntityIndividual
Shares200
Max PriceUS$24.85
SellUS$27,41001 Aug 19
Charles Wootton
EntityIndividual
Role
Senior Key Executive
Executive VP & Clerk
Shares1,052.68
Max PriceUS$26.04
SellUS$43,64315 May 19
Katherine Boyd
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,697
Max PriceUS$25.72
SellUS$33,47829 Jan 19
Charles Wootton
EntityIndividual
Role
Senior Key Executive
Executive VP & Clerk
Shares1,501.69
Max PriceUS$22.29
BuyUS$9,20720 Nov 18
Mark Rosborough
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares341
Max PriceUS$27.00

Ownership Breakdown


Management Team

  • Charlie Wootton (63yo)

    Executive VP & Clerk

    • Tenure: 18.6yrs
    • Compensation: US$385.44k
  • Richard Elder (54yo)

    Executive VP

    • Tenure: 1.4yrs
    • Compensation: US$300.65k
  • Susan Norton (59yo)

    CRA Officer & Compliance Officer

    • Tenure: 0.0yrs
    • Compensation: US$333.18k
  • Tony McKim (52yo)

    President

    • Tenure: 4.6yrs
    • Compensation: US$858.08k

Board Members

  • Stuart Smith (66yo)

    Director

    • Tenure: 22.6yrs
    • Compensation: US$32.70k
  • Rob Gregory (66yo)

    Director

    • Tenure: 32.6yrs
    • Compensation: US$30.30k
  • Steve Ward (66yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: US$145.64k
  • Bruce Tindal (69yo)

    Director

    • Tenure: 20.6yrs
    • Compensation: US$30.90k
  • Katherine Boyd (68yo)

    Director

    • Tenure: 26.6yrs
    • Compensation: US$32.70k
  • Tony McKim (52yo)

    President

    • Tenure: 4.6yrs
    • Compensation: US$858.08k
  • Mark Rosborough (71yo)

    Chairman of the Board

    • Tenure: 1.6yrs
    • Compensation: US$39.50k
  • Connie Russell (55yo)

    Director

    • Tenure: 5.5yrs
    • Compensation: US$30.90k
  • Renee Kelly (49yo)

    Director

    • Tenure: 3.6yrs
    • Compensation: US$35.85k

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: 1985
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$272.454m
  • Shares outstanding: 10.89m
  • Website: https://www.thefirst.com

Number of Employees


Location

  • The First Bancorp, Inc.
  • Main Street
  • Damariscotta
  • Maine
  • 4543
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FNLCNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 00:07
End of Day Share Price2019/08/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.