First Bancorp
Description
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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. It 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, the company 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, it 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. The company was founded in 1934 and is headquartered in Southern Pines, North Carolina.
About
Earnings
Date | Estimate EPS | Actual EPS | Difference | % Surprise |
---|---|---|---|---|
Jan 21, 2026 | — | — | — | — |
Oct 21, 2025 | — | — | — | — |
Jul 22, 2025 | — | — | — | — |
Apr 22, 2025 | — | — | — | — |
Jan 30, 2025 | 0.72 | 0.76 | 0.04 | 5.56% |
Earnings estimate
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Dec 2025)
|
Next Year
(Dec 2026)
|
|
---|---|---|---|---|
Number of analysts | 2 | 2 | 2 | 3 |
Average estimate | 0.81 | 0.83 | 3.37 | 3.44 |
Low estimate | 0.78 | 0.81 | 3.29 | 3.08 |
High estimate | 0.83 | 0.84 | 3.45 | 3.70 |
Last year EPS | 0.61 | 0.70 | 2.77 | 3.37 |
Growth estimates
Analyst Ratings
Date | Firm | Action | Rating | Price Target |
---|---|---|---|---|
Dec 4, 2024 |
Keefe, Bruyette & Woods
Wood Lay
|
Maintains | Outperform | ▲ Raises $49 → $56 |
Jul 25, 2024 |
Keefe, Bruyette & Woods
Wood Lay
|
Maintains | Outperform | ▲ Raises $40 → $45 |
Oct 26, 2023 |
Piper Sandler
Stephen Scouten
|
Maintains | Overweight | ▼ Lowers $34 → $32 |
Sep 14, 2023 |
DA Davidson
Kevin Fitzsimmons
|
Upgrade | Buy | ▼ Lowers $36.5 → $34 |
Jul 31, 2023 |
Raymond James
|
Downgrade | Market Perform | — |
Jul 27, 2023 |
Keefe, Bruyette & Woods
|
Maintains | Outperform | — |
May 1, 2023 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▼ Lowers $43 → $36 |
Apr 27, 2023 |
Keefe, Bruyette & Woods
Brady Gailey
|
Maintains | Outperform | ▼ Lowers $46 → $42 |
Apr 27, 2023 |
Piper Sandler
Stephen Scouten
|
Maintains | Overweight | ▼ Lowers $44 → $39 |
Apr 6, 2023 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▼ Lowers $45 → $43 |
Jan 30, 2023 |
Raymond James
Daniel Tamayo
|
Maintains | Market Outperform | ▼ Lowers $49 → $45 |
Jan 26, 2023 |
Piper Sandler
Stephen Scouten
|
Maintains | Overweight | ▼ Lowers $49 → $45 |
Oct 31, 2022 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▲ Raises $41 → $49 |
Oct 6, 2022 |
Raymond James
David Long
|
Maintains | Outperform | ▼ Lowers $43 → $41 |
Aug 18, 2022 |
Piper Sandler
Stephen Scouten
|
Upgrade | Overweight | ▼ Lowers $49 → $47 |
Aug 1, 2022 |
DA Davidson
Kevin Fitzsimmons
|
Downgrade | Neutral | ▼ Lowers $43 → $42 |
Aug 1, 2022 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▲ Raises $40 → $43 |
Jun 23, 2022 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▼ Lowers $44 → $40 |
May 2, 2022 |
Raymond James
Daniel Tamayo
|
Maintains | Outperform | ▼ Lowers $49 → $44 |
Feb 28, 2022 |
Raymond James
|
Initiates | Outperform | — |
Oct 12, 2021 |
Piper Sandler
Stephen Scouten
|
Downgrade | Neutral | ▲ Raises $49 → $52 |
Jun 16, 2021 |
Piper Sandler
Stephen Scouten
|
Upgrade | Overweight | ▲ Raises $46 → $51 |
Jul 24, 2020 |
Piper Sandler
|
Maintains | Neutral | ▼ Lowers $26 → $25 |
Jun 19, 2020 |
DA Davidson
|
Downgrade | Neutral | — |
Jun 18, 2020 |
Piper Sandler
Stephen Scouten
|
Downgrade | Neutral | ▼ Lowers $32 → $26 |
Feb 28, 2020 |
DA Davidson
|
Initiates | Buy | — |
Apr 25, 2019 |
Gabelli & Co.
|
Upgrade | Buy | — |
Mar 25, 2019 |
Piper Sandler
|
Upgrade | Buy | — |
Mar 25, 2019 |
Sandler O'Neill
|
Upgrade | Buy | — |
Jul 27, 2018 |
Piper Sandler
Peyton Green
|
Maintains | Overweight | ▲ Raises $44 → $46 |
Income statement
2023 | 2022 | 2021 | 2020 | 2019 | |
---|---|---|---|---|---|
Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
Total reported revenue | 404.30M | 393.21M | 319.98M | 298.92M | 274.79M |
Cost of revenue | — | — | — | — | — |
Gross profit | — | — | — | — | — |
Operating expense | |||||
Research & development | — | — | — | — | — |
Selling general and admin | 153.16M | 125.61M | 109.82M | 100.97M | 95.97M |
Other operating expenses | — | — | — | — | — |
Operating income | — | — | — | — | — |
Non operating interest income | |||||
Income | — | — | — | — | — |
Expense | — | — | — | — | — |
Other income expense | — | — | — | — | — |
Pretax income | 131.96M | 185.22M | 120.32M | 103.13M | 116.28M |
Tax provision | 27.83M | 38.28M | 24.68M | 21.65M | 24.23M |
Net income | 104.13M | 146.94M | 95.64M | 81.48M | 92.05M |
Basic EPS | 2.54 | 4.12 | 2.68 | 2.85 | 3.11 |
Diluted EPS | 2.53 | 4.12 | 2.68 | 2.81 | 3.10 |
Basic average shares | 40.75M | 35.70M | 35.63M | 28.58M | 29.60M |
Diluted average shares | 40.75M | 35.70M | 35.63M | 28.58M | 29.60M |
EBITDA | — | — | — | — | — |
Net income from continuing op. | 104.13M | 146.94M | 95.64M | 81.48M | 92.05M |
Minority interests | — | — | — | — | — |
Preferred stock dividends | 685,000 | 779,000 | 483,000 | 398,000 | 450,000 |
Balance sheet
2023 | 2022 | 2021 | 2020 | 2019 | |
---|---|---|---|---|---|
Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
Total assets | — | — | — | — | — |
Current assets | |||||
Cash | 100.89M | 101.13M | 128.23M | 93.72M | 64.52M |
Cash equivalents | — | — | — | — | — |
Cash and cash equivalents | 237.86M | 270.32M | 461.16M | 367.29M | 231.30M |
Other short term investments | 2.19B | 2.31B | 2.63B | 1.45B | 821.95M |
Accounts receivable | 37.35M | 29.71M | 25.90M | 20.27M | 16.65M |
Other receivables | — | — | — | — | — |
Inventory | — | — | — | — | — |
Prepaid assets | — | — | — | — | — |
Restricted cash | — | — | — | — | — |
Assets held for sale | — | — | — | — | — |
Hedging assets | — | — | — | — | — |
Other current assets | — | — | — | — | — |
Non current assets | |||||
Properties | 19.45M | 19.96M | 20.72M | 17.51M | 19.67M |
Land and improvements | 52.44M | 45.36M | 45.40M | 38.58M | 38.16M |
Machinery furniture equipment | 35.21M | 31.92M | 31.10M | 30.10M | 33.11M |
Construction in progress | — | — | — | — | — |
Leases | 1.64M | 1.64M | 2.03M | 3.05M | 2.20M |
Accumulated depreciation | -68.71M | -60.85M | -55.06M | -54.47M | -52.35M |
Goodwill | 990.36M | 741.20M | 746.35M | 493.91M | 485.95M |
Investment properties | — | — | — | — | — |
Financial assets | — | — | — | — | — |
Intangible assets | 32.86M | 12.68M | 17.83M | 15.37M | 17.22M |
Investments and advances | 2.72B | 2.86B | 3.14B | 1.62B | 889.88M |
Other non current assets | — | — | — | — | — |
Total liabilities | — | — | — | — | — |
Current liabilities | |||||
Accounts payable | 5.70M | 2.74M | 607,000 | 904,000 | 2.15M |
Accrued expenses | — | — | — | — | — |
Short term debt | — | — | — | — | 238.00M |
Deferred revenue | — | — | — | — | — |
Tax payable | — | — | — | — | — |
Pensions | — | — | — | — | — |
Other current liabilities | — | — | — | — | — |
Non current liabilities | |||||
Long term debt | 570.67M | 237.82M | 19.50M | 22.99M | 263.82M |
Provision for risks and charges | — | — | — | — | — |
Deferred liabilities | — | — | — | — | — |
Derivative product liabilities | — | — | — | — | — |
Other non current liabilities | — | — | — | — | — |
Shareholders equity | |||||
Common stock | 963.99M | 725.15M | 722.67M | 400.58M | 429.51M |
Retained earnings | 716.42M | 648.42M | 532.87M | 478.49M | 417.76M |
Other shareholders equity | -308.03M | -341.98M | -24.97M | 14.35M | 5.12M |
Total shareholders equity | 1.37B | 1.03B | 1.23B | 893.42M | 852.40M |
Additional paid in capital | — | — | — | — | — |
Treasury stock | 1.39M | 1.59M | 1.80M | 2.24M | 2.59M |
Minority interest | — | — | — | — | — |
Cash flow statement
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities | |||||||||||||||||||||||||||||||||
Net Income | 104.13M | 146.94M | 95.64M | 81.48M | 92.05M | 89.29M | 45.97M | 27.51M | 27.03M | 25.00M | 20.70M | -23.41M | 13.64M | 9.98M | 60.26M | 22.01M | 21.81M | 19.30M | 16.09M | 20.11M | 19.42M | 17.23M | 13.62M | 9.34M | 11.85M | 10.97M | 5.00M | 4.30M | 1.60M | 3.00M | 2.70M | 2.50M | 2.00M |
Depreciation | 19.21M | 15.33M | 13.93M | 13.60M | 13.89M | 12.84M | 9.73M | 5.81M | 5.22M | 5.40M | 5.48M | 5.45M | 5.29M | 4.87M | 630,000 | 3.88M | 3.66M | 3.28M | 3.09M | 2.69M | 2.82M | 2.15M | 3.01M | 1.85M | 1.75M | 1.52M | 1.30M | 1.30M | 1.10M | 1.10M | 1.00M | 1.10M | 700,000 |
Deferred Taxes | -782,000 | -1.81M | -4.80M | -10.01M | 1.59M | — | — | — | — | — | — | — | — | — | 20.06M | -1.37M | -422,000 | -1.34M | -156,000 | -217,000 | 425,000 | -322,000 | -51,000 | -546,000 | -183,000 | 192,000 | -100,000 | 300,000 | -200,000 | 400,000 | 100,000 | — | -100,000 |
Stock-Based Compensation | 5.13M | 2.98M | 2.27M | 2.54M | 2.27M | 1.57M | 1.10M | 714,000 | 710,000 | 270,000 | 222,000 | 311,000 | 905,000 | 640,000 | 449,000 | 143,000 | 190,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Non-Cash Items | -20.94M | 54.59M | 17.78M | -43.75M | -40.50M | -31.32M | -11.63M | 10.36M | 14.76M | 19.19M | 1.36M | 26.42M | 25.58M | 34.86M | -99.68M | 57,000 | 2.98M | 5.69M | 3.10M | 2.72M | 21.00M | 3.09M | 1.11M | 1.77M | 4.70M | 8.23M | 700,000 | 200,000 | 1.00M | 500,000 | 700,000 | 600,000 | 1.10M |
Accounts Receivable | -1.90M | -3.81M | -773,000 | -3.62M | -644,000 | -1.91M | -1.07M | -120,000 | -246,000 | 729,000 | 552,000 | 1.58M | 1.80M | 1.20M | 1.10M | 1.29M | -803,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Accounts Payable | 2.58M | 2.13M | -683,000 | -1.25M | 178,000 | 741,000 | 392,000 | -4,000 | -101,000 | -193,000 | -447,000 | -577,000 | -210,000 | -972,000 | -3.71M | -1.24M | 361,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Assets & Liabilities | 11.49M | 3.34M | 17.81M | 10.07M | -3.56M | -2.17M | -4.01M | 2.14M | -5.28M | 4.84M | 26.34M | -22.21M | -30.43M | -31.94M | 4.95M | -143,000 | -2.02M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Operating Cash Flow | 118.91M | 219.69M | 141.17M | 49.06M | 65.26M | 69.04M | 40.48M | 46.42M | 42.09M | 55.23M | 54.21M | -12.43M | 16.58M | 18.64M | -15.95M | 24.63M | 25.76M | 26.93M | 22.12M | 25.31M | 43.67M | 22.14M | 17.68M | 12.42M | 18.12M | 20.91M | 6.90M | 6.10M | 3.50M | 5.00M | 4.50M | 4.20M | 3.70M |
Investing Activities | |||||||||||||||||||||||||||||||||
Capital Expenditures | -3.45M | -4.99M | -9.09M | -12.17M | -1.74M | -7.97M | -4.51M | -6.66M | -3.86M | -3.44M | -6.29M | -8.95M | -6.61M | -17.54M | -1.21M | -5.38M | -5.79M | -10.87M | -7.21M | -7.34M | -3.67M | -5.64M | -3.22M | -3.31M | -2.58M | -1.54M | -1.80M | -600,000 | -1.30M | -200,000 | -1.20M | -200,000 | -1.00M |
Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Net Acquisitions | 22.61M | — | 208.99M | -9.56M | — | — | 72.52M | -27.43M | — | — | 38.32M | 9.31M | 54.04M | -171,000 | 91.70M | 2.46M | — | — | — | — | -2.82M | — | 79.82M | — | — | — | — | — | — | — | — | — | — |
Purchase of Investments | -10.92M | -401.76M | -1.85B | -1.19B | -498.89M | -230.79M | -191.55M | -114.40M | -96.68M | -191.64M | -65.73M | -92.06M | -80.02M | -121.74M | -123.20M | -160.92M | -95.16M | -67.12M | -55.64M | -31.06M | -73.98M | -12.98M | -39.75M | -22.14M | -81.89M | -74.94M | -39.70M | -46.20M | -28.00M | -38.80M | -30.70M | -36.30M | -25.80M |
Sale of Investments | 280.67M | 257.81M | 478.39M | 476.57M | 231.18M | 77.05M | 200.94M | 100.32M | 109.44M | 78.26M | 53.63M | 107.37M | 79.19M | 99.89M | 136.58M | 141.10M | 87.78M | 49.40M | 27.90M | 46.77M | 50.51M | 45.18M | 54.16M | 72.29M | 52.15M | 95.53M | 44.90M | 39.20M | 30.00M | 36.80M | 33.30M | 27.80M | 20.50M |
Investing Cash Flow | 275.12M | -154.96M | -1.18B | -727.75M | -259.48M | -160.31M | 76.10M | -47.72M | 348,000 | -77.96M | 146.48M | 95.44M | 159.35M | 32.03M | 145.76M | -19.74M | -11.65M | -249.72M | -154.74M | -142.68M | -117.37M | -76.14M | 60.90M | -70.61M | -112.45M | -73.40M | -42.20M | -22.90M | -15.40M | -6.80M | -12.80M | -7.00M | -11.40M |
Financing Activities | |||||||||||||||||||||||||||||||||
Long-Term Debt Issuance | 3.35B | 1.25B | — | 150.00M | — | 50.00M | 110.00M | — | — | — | — | — | — | — | — | 84.56M | 32.38M | 109.77M | 8.00M | 15.00M | 44.00M | 15.00M | — | — | — | — | — | — | — | — | — | — | — |
Long-Term Debt Payments | -3.04B | -1.03B | -5.73M | -400.04M | -106.12M | -101.12M | -105.74M | — | — | — | — | — | — | — | -349.47M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Other Financing Charges | -743,000 | -840,000 | -786,000 | -307,000 | -702,000 | -406,000 | -231,000 | -166,000 | -54,000 | — | — | — | -924,000 | — | 73,000 | 65,000 | 41,000 | 117,000 | — | — | — | — | — | — | — | 100,000 | — | — | — | -100,000 | -100,000 | 100,000 | — |
Financing Cash Flow | 267.33M | 408.37M | -32.78M | -501.15M | -185.48M | -12.80M | 89.44M | -6.80M | -70.66M | -7.10M | -7.51M | 25.55M | -76.89M | 12.63M | -642.26M | 74.85M | 21.54M | 99.47M | -1.76M | 5.86M | 35.33M | 6.86M | -32.63M | -42.62M | 50.88M | -19.23M | -1.50M | -1.30M | -1.10M | -1.00M | -900,000 | -500,000 | -500,000 |
Other Cash Details | |||||||||||||||||||||||||||||||||
End Cash Position | 237.86M | 270.32M | 461.16M | 367.29M | 231.30M | 462.90M | 489.49M | 305.99M | 267.27M | 253.08M | 223.27M | 241.51M | 216.17M | 212.00M | 350.87M | 224.78M | 166.60M | 146.67M | 103.52M | 89.40M | 62.91M | 73.65M | 86.82M | 30.44M | 58.34M | 51.05M | 33.60M | — | — | — | — | — | — |
Income Tax Paid | 29.73M | 39.72M | 32.51M | 29.60M | 24.34M | 21.16M | 19.54M | 11.79M | 13.82M | 5.10M | 1.08M | 14.29M | 14.89M | 16.31M | 16.47M | 15.32M | 17.08M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Interest Paid | 135.70M | 14.31M | 10.21M | 20.81M | 33.73M | 23.04M | 12.24M | 7.65M | 7.01M | 8.42M | 11.41M | 17.89M | 23.78M | 32.88M | 52.60M | 62.54M | 69.30M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Free Cash Flow | 126.98M | 225.37M | 132.93M | 45.97M | 47.70M | 35.69M | 22.18M | 32.58M | 31.87M | 43.07M | 65.59M | 32.73M | 30.44M | 46.57M | 9.73M | 28.92M | 24.78M | 14.19M | 21.69M | 20.55M | 37.80M | 5.44M | 8.80M | 10.83M | 16.97M | 18.97M | 5.60M | 6.70M | 5.50M | 4.10M | 3.60M | 4.30M | 2.50M |