First Bancorp
$57.31
-1.2%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.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
High confidenceValuation multiple is mid-range (P/E 21.4).
Valuation inputs: P/E 21.4, earnings yield +4.7%, momentum -1.2%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE +6.7%, ROIC -1.8%).
Profitability stack: net margin +20.4%, ROE +6.7%, ROIC -1.8%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +86.9%, momentum -1.2%, net margin +20.4%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
First Bancorp Market vs Earnings Trajectory
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First Bancorp Fair Value Envelope
First Bancorp Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Outstanding operational efficiency. The company generates substantial profit from core operations.
Net Profit Margin
Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.
Effective Tax Rate
Moderate tax rate typical for most corporations. Represents standard tax burden on profits.
Profitability Insight
Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.
First Bancorp Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.
First Bancorp Funding & Solvency Profile
Financial Health Analysis
Debt-to-Equity Ratio
High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Capital-intensive business with significant long-term investments in property, equipment, or intangibles.
First Bancorp Street Expectations Map
Wall Street analysts project that FBNC stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 63.00, with estimates ranging from a low of 62.00 to a high of 64.00.
The consensus 1-year price target stands at 63.00, with estimates ranging from a low of 62.00 to a high of 64.00.
Analyst Consensus Analysis
Upside Potential
Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.
Market Sentiment Insight
Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.
First Bancorp Insider Positioning
During the last 12 months, insiders have purchased $843K and sold $3.53M worth of FBNC shares, resulting in $2.69M of net selling activity.
3 Months
0
0.00
44.3K
2.60M
-2.6M
-$2.60M
3-6 Months
0
0.00
12.6K
750.30K
-750K
-$750K
6-9 Months
18.1K
840.71K
0
0.00
+841K
+$841K
9-12 Months
40
1.98K
3.5K
184.52K
-183K
-$183K
Top Buyers
Capel Mary Clara
Director
$841K
Donnelly Abby Jill
Director
$2K
Top Sellers
Mayer Michael Goodwin
Director
$2.60M
Capel Mary Clara
Other: Retired Board Member
$478K
Crawford James C Iii
Director
$457K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $2.69M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Weak buy/sell ratio. Selling significantly exceeds buying—monitor for potential fundamental concerns.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
3 insider sellers vs. 2 buyers. More insiders selling than buying suggests cautious or negative sentiment.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
fbnc Dividend History
Learning Layer
Related Guides
Build conviction on FBNC by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.