FIRST BANCORP
In the published model solve dated 2026-Q2, anchored at $65.04, FIRST BANCORP (FBNC) is priced for 12.9% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• The entire earnings story sits in one widening spread, which the annual report states directly: ⟦"NIM expanded 51 basis points to 3.40% in 2025 from 2.89% in 2024"⟧, and net income followed it from 76.2 million dollars to 111.1 million. • What the market pays and what the bank earns have not met yet: the shares change hands near one and a half times book, while last year's result measured against year-end book came to roughly 6.7%. • Integration risk has just been added back to a balance she
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229 institutional managers reported holding FBNC in 13F filings for the quarter ended 2026-03-31. Together they hold about 80% of the company; the top 10 hold 54%. 28 opened new positions that quarter. Held by BlackRock, FMR (Fidelity), Vanguard Group, among others. On the short side, 2.0M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (10.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FBNC's share count grew 45.6% over the past five years even with $6.14M spent on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 2 years straight; the current rate is $0.91 a share annually. Cash returned over the past three years: $101.14M in dividends and $6.14M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FBNC over the trailing three years: 2023: 4 buys totaling $76k; 2024: 2 buys totaling $35k; 2025: 4 buys totaling $242k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FBNC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -0.1% | -12.9% |
| 2023-11-08 | +8.2% | +19.6% |
| 2024-02-29 | -1.9% | -6.9% |
| 2024-05-09 | +0.3% | +10.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FBNC's latest 8-K filings: 2026-07-22 (items 2.02, 9.01); 2026-07-14 (items 1.01, 8.01, 9.01); 2026-06-12 (items 8.01, 9.01); 2026-04-29 (items 5.07); 2026-04-28 (items 5.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.