Amalgamated Bank Boosts Stake in First Bancorp by 2.9% in Q1
August 12, 2023
☀️Trending News
First Bancorp ($NYSE:FBP) is a financial services holding company whose primary subsidiary is First Bank, a full-service community bank with multiple locations throughout North Carolina and South Carolina. This is a significant boost for the company, as Amalgamated Bank has a long-term investment strategy which aims for long-term sustainability and growth. This increase in holdings will undoubtedly provide First Bancorp with additional capital and provide a strong vote of confidence from one of the largest stakeholders in the company. The increased stake from Amalgamated Bank is further evidence of the financial stability and growth potential of First Bancorp.
This increased capital infusion will give First Bancorp greater resources to expand its services and continue to serve the needs of its customers and communities. With its strong financials and record of success, First Bancorp is well-positioned to continue its growth and success in the years ahead.
Analysis
At GoodWhale, we conducted an analysis of FIRST BANCORP‘s wellbeing to better understand the company’s current state. Our Star Chart shows that FIRST BANCORP is strong in growth, dividend, and medium in profitability, and asset. Interestingly, FIRST BANCORP has a high health score of 10/10 with regard to its cashflows and debt, which indicates the company is capable to sustain future operations in times of crisis. Based on our assessment, FIRST BANCORP is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given these results, we believe investors who are looking to invest in a stable company with a history of moderate growth and dividend income will find FIRST BANCORP an attractive option. Moreover, investors who prioritize companies with strong cashflows and debt may also be interested in FIRST BANCORP due to its high health score. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Bancorp. More…
| Total Revenues | Net Income | Net Margin |
| – | 289.13 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Bancorp. More…
| Operations | Investing | Financing |
| 440.49 | -681.46 | -1.82k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Bancorp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.15k | 17.75k | – |
Key Ratios Snapshot
Some of the financial key ratios for First Bancorp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.5% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Peers
The company’s main competitors are People’s United Financial Inc, AIB Group PLC, and Bandhan Bank Ltd.
– People’s United Financial Inc ($OTCPK:AIBGY)
AIB Group PLC is a leading financial services company based in Dublin, Ireland. The company has a market cap of 7.62B as of March 2022. AIB Group PLC provides a wide range of banking and financial services to retail, corporate, and institutional customers in Ireland, the United Kingdom, and the United States. The company operates through four segments: Personal & Business Banking, Corporate & Investment Banking, Wealth & Asset Management, and Central Treasury. AIB Group PLC is a publicly traded company listed on the Dublin Stock Exchange and the London Stock Exchange.
– AIB Group PLC ($BSE:541153)
Bandhan Bank Ltd has a market cap of 436.53B as of 2022. It is an Indian banking and financial services company headquartered in Kolkata, West Bengal. The company offers a range of banking products and services including deposits, loans, credit cards, and insurance. It also has a network of over 4,500 branches and 10,000 ATMs across India.
Summary
Investors are increasingly turning to First Bancorp as a potential investment opportunity. Investors should closely monitor the company’s recent performance, and consider its financial stability and any potential risks associated with its shares, before deciding to invest in First Bancorp. It is also important to consider the current economic climate and how it could affect the stock’s performance.
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