The First Bancorp Is Finally Deserving Of Some Love (Upgrade)
Summarize this article with:
Daniel JonesInvesting Group LeaderFollow5ShareSavePlay(9min)CommentsSummaryThe First Bancorp is upgraded to a soft "Buy" due to improved fundamentals and attractive valuation.FNLC’s net interest income rose from $16.4 million to $20.8 million, driven by lower deposit costs and a higher net interest margin.Asset quality remains strong, with return on assets at 1.26% and return on equity at 14.35%, both above peer averages.Valuation is compelling: FNLC trades at a 9.4x P/E, the lowest among peers, though non-performing loans have increased slightly.Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate. Learn More » Guido Mieth/DigitalVision via Getty Images Truthfully, there is very little in this world that gives me more pleasure than being able to upgrade a stock from something either negative or neutral to something positive. In an ideal world, every company would thrive. But that's not the way things are. TheThis article was written byDaniel Jones36.7K FollowersFollowDaniel is an avid and active professional investor. He runs Crude Value Insights, a value-oriented newsletter aimed at analyzing the cash flows and assessing the value of companies in the oil and gas space. His primary focus is on finding businesses that are trading at a significant discount to their intrinsic value by employing a combination of Benjamin Graham's investment philosophy and a contrarian approach to the market and the securities therein. Learn more.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.