First Bancorp Stock Price Rises 1.85%, Closing at $30.30
July 7, 2023
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First Bancorp ($NASDAQ:FBNC), a financial services holding company based in North Carolina, saw a rise in their stock price as the market closed on Wednesday. The stock closed at $30.30, a 1.85% increase of $0.55 from the closing price of $29.75 earlier in the day. This marks the sixth consecutive day of gains for First Bancorp stocks. Throughout the day, the stock continued to trend upwards, climbing steadily throughout the trading session. Investors and traders alike were encouraged by the news of continuing positive growth from the company.
First Bancorp’s strong performance on Wall Street has been attributed to its diverse portfolio across banking, insurance and other financial services. The company has been focusing on expanding its offerings into new markets while continuing its focus on providing excellent customer service. With a solid outlook and a steady increase in stock prices, First Bancorp looks set to continue its success in the coming months.
Analysis
GoodWhale has conducted an analysis of FIRST BANCORP‘s fundamentals, and the Star Chart has revealed that the company has a high health score of 8/10. This score indicates that FIRST BANCORP is capable of sustaining its future operations in times of crisis, as it is strong in cashflows and debt. The company is also strong in growth, asset, and dividend, and medium in profitability. Based on this analysis, we classify FIRST BANCORP as a ‘cheetah’, a type of company that achieves high revenue or earnings growth but is considered less stable due to lower profitability. Investors who are interested in companies that can achieve high growth while taking on relatively greater risks may find FIRST BANCORP to be an attractive investment opportunity. 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
First Bancorp, a financial holding company, experienced steady market performance on Thursday, closing at $30.30 per share. This final closing price was 1.85% higher than the previous day’s closing price of $29.75, indicating an increase in market confidence. This rise in share prices was likely due to increased investor demand and positive sentiment surrounding the company’s prospects for future success.
Analysts suggest that continued positive performance is likely in the weeks ahead, as the company looks to expand its offerings and capitalize on opportunities in the market. As such, investing in First Bancorp could be a worthwhile consideration for investors looking to diversify their portfolios.
