First Bancorp Stock Fair Value – Victory Capital Management Increases Stake in First Bancorp by 1.1% in Fourth Quarter
June 28, 2023
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First Bancorp ($NASDAQ:FBNC) is a financial services holding company with headquarters in Lillington, North Carolina. It operates primarily through First Bank, which offers a range of services, including mortgages, consumer and commercial loans, business banking services, and more. The company also provides insurance, trust, and asset management services.
This information was revealed in the company’s filing with the Securities and Exchange Commission. With the recent increase in stake, Victory Capital Management is clearly expressing its belief that First Bancorp will continue to experience further growth.
Analysis – First Bancorp Stock Fair Value
At GoodWhale, we have conducted an analysis of the financials of FIRST BANCORP. Using our proprietary Valuation Line, the fair value of a FIRST BANCORP share is estimated to be around $36.5. However, the current trading price for FIRST BANCORP is at $30.2, which denotes a fair price that is undervalued by 17.2%. This indicates that investing in FIRST BANCORP may present an attractive opportunity for investors. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for First Bancorp. More…
| Total Revenues | Net Income | Net Margin |
| – | 127.55 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for First Bancorp. More…
| Operations | Investing | Financing |
| 230.65 | -713.36 | 291.86 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for First Bancorp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.36k | 11.06k | – |
Key Ratios Snapshot
Some of the financial key ratios for First Bancorp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.7% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Peers
The company operates more than 2,000 branch offices and 4,700 ATMs across the country. First Bancorp is a member of the Federal Reserve System and is regulated by the Office of the Comptroller of the Currency. The company’s primary competitors are Mountain Commerce Bancorp Inc, Citizens Bancshares Corp, and BCB Bancorp Inc.
– Mountain Commerce Bancorp Inc ($OTCPK:MCBI)
Mountain Commerce Bancorp Inc is a bank holding company that operates through its subsidiary, Mountain Commerce Bank. The bank offers a range of banking services for individuals and businesses, including checking and savings accounts, loans, and credit cards. The company has a market cap of 170.53M as of 2022.
– Citizens Bancshares Corp ($OTCPK:CZBS)
Citizens Bancshares Corp is a bank holding company. The Company, through its subsidiaries, provides a range of banking services to individual and corporate customers. These services include personal and commercial banking, loans, mortgages, credit cards, and investment management.
– BCB Bancorp Inc ($NASDAQ:BCBP)
BCB Bancorp Inc., a bank holding company, provides banking products and services to retail, commercial, and industrial customers in the United States. The company operates in two segments, Banking and Mortgage Banking. It offers various deposit products, including checking accounts, money market accounts, savings accounts, certificates of deposit, and individual retirement accounts. The company also provides loans, such as commercial real estate loans, construction loans, residential mortgage loans, home equity lines of credit, and term loans. In addition, it offers other services, such as safe deposit box rentals, ATM banking, night depository services, direct deposit of payroll and Social Security, and telephone and Internet banking services. As of December 31, 2020, the company operated 39 banking offices in central and northern New Jersey. BCB Bancorp Inc. was founded in 1868 and is headquartered in Bayonne, New Jersey.
Summary
Investors in First Bancorp have seen mixed results in recent weeks, as Victory Capital Management Inc. increased its position in the company by 1.1% in the fourth quarter. In spite of this, the stock price of the company moved down on the same day. Nonetheless, analysts suggest that now may be a good time to invest in the company due to its strong financials.
Analysts recommend looking for further signs of stability before making a decision, such as a strong balance sheet and steady dividends. Investors should also carefully consider the risks associated with investing in First Bancorp before making any decisions.
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