First Bancorp (NASDAQ:FBNC) Bolsa

First Bancorp

First Bancorp is a bank holding company. The company is engaged in providing commercial and consumer banking services, mortgage lending, SBA lending, accounts receivable financing and investment advisory services.

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Meta sube en la preapertura tras superar expectativas. Descubre qué otras acciones están registrando fuertes movimientos hoy.

Acciones de Meta Platforms (META) están cotizando al alza; 20 acciones que se mueven en el premercado de EE.UU.

Stephens &amp; Co. analyst Russell Gunther maintains First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Overweight and raises the price target from $53 to $57.

News

Price Target

Analyst Ratings

Stephens & Co. Maintains Overweight on First Bancorp, Raises Price Target to $57

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Outperform and raises the price target from $50 to $53.

Keefe, Bruyette & Woods Maintains Outperform on First Bancorp, Raises Price Target to $53

First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) reported quarterly earnings of $0.87 per share which met the analyst consensus estimate. This is a 24.29 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $111.017 million which beat the analyst consensus estimate of $109.222 million by 1.64 percent. This is a 15.99 percent increase over sales of $95.716 million the same period last year.

Earnings

Earnings Beats

First Bancorp Q2 Adj. EPS $0.87, Inline, Sales $111.017M Beat $109.222M Estimate

Across the recent three months, 4 analysts have shared their insights on First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $49.0, a high estimate of $50.00, and a low estimate of $48.00. Experiencing a 1.01% decline, the current average is now lower than the previous average price target of $49.50. 
<img src="https://www.benzinga.com/files/images/story/2025/1747170159_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive First Bancorp is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Stephen Scouten</td>
<td>Piper Sandler</td>
<td>Announces</td>
<td>Neutral</td>
<td>$48.00</td>
<td>-</td>
</tr>
<tr>
<td>Russell Gunther</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$50.00</td>
<td>$48.00</td>
</tr>
<tr>
<td>Wood Lay</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$50.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Russell Gunther</td>
<td>Stephens &amp; Co.</td>
<td>Announces</td>
<td>Overweight</td>
<td>$48.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to First Bancorp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of First Bancorp compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for First Bancorp's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of First Bancorp's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/FBNC/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on First Bancorp analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">you can start by tracking it here</a>.
<h2>All You Need to Know About First Bancorp</h2>
First Bancorp is a bank holding company. The company is engaged in providing commercial and consumer banking services, mortgage lending, SBA lending, accounts receivable financing and investment advisory services.
<h3>First Bancorp: A Financial Overview</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: First Bancorp's remarkable performance in 3M is evident. As of 31 March, 2025, the company achieved an impressive revenue growth rate of 15.29%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 34.61%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): First Bancorp's ROE stands out, surpassing industry averages. With an impressive ROE of 2.45%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): First Bancorp's ROA excels beyond industry benchmarks, reaching 0.29%. This signifies efficient management of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.01.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into First Bancorp Stock: Analyst Perspectives (4 Ratings)

Piper Sandler analyst Stephen Scouten initiates coverage on First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Neutral rating and announces Price Target of $48.

Initiation

Piper Sandler Initiates Coverage On First Bancorp with Neutral Rating, Announces Price Target of $48

Stephens &amp; Co. analyst Russell Gunther maintains First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Overweight and raises the price target from $48 to $50.

Stephens & Co. Maintains Overweight on First Bancorp, Raises Price Target to $50

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Outperform and lowers the price target from $51 to $50.

Keefe, Bruyette & Woods Maintains Outperform on First Bancorp, Lowers Price Target to $50

First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) reported quarterly earnings of $0.84 per share which beat the analyst consensus estimate of $0.78 by 7.69 percent. This is a 37.7 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $105.78 million which beat the analyst consensus estimate of $105.37 million by 0.39 percent. This is a 14.77 percent increase over sales of $92.17 million the same period last year.

First Bancorp Q1 Adj. EPS $0.84 Beats $0.78 Estimate, Sales $105.78M Beat $105.37M Estimate

Stephens &amp; Co. analyst Russell Gunther initiates coverage on First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Overweight rating and announces Price Target of $48.

Stephens & Co. Initiates Coverage On First Bancorp with Overweight Rating, Announces Price Target of $48

Dividends

First Bancorp Announces Cash Dividend Of $0.22/Share

Janney Montgomery Scott analyst Christopher Marinac downgrades First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) from Buy to Neutral.

Downgrades

Janney Montgomery Scott Downgrades First Bancorp to Neutral

The Board of Directors of First&nbsp;Bancorp (NASDAQ - FBNC), the parent company of First Bank (the "Bank"), today announced the promotion of G. Adam Currie from President to Chief Executive Officer (CEO) of the Bank. Currie will replace Michael G. Mayer, who will remain as President of First Bancorp until early 2026.&nbsp;

Management

First Bank Announces The Promotion Of G. Adam Currie From President To Chief Executive Officer Of The Bank; Currie Will Replace Michael G. Mayer, Who Will Remain As President Of First Bancorp Until Early 2026.

Shares of Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) rose sharply in today's pre-market trading after the company reported better-than-expected <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">fourth-quarter sales results</a>.
Meta reported fourth-quarter revenue of $48.39 billion, beating analyst estimates of $47.03 billion. The company reported fourth-quarter earnings of $8.02 per share, beating analyst estimates of $6.77 per share.
Meta shares gained 2.2% to $691.66 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
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<li>Alterity Therapeutics Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHE#NASDAQ">ATHE</a>) gained 105% to $6.13 in pre-market trading.</li>
<li>NanoVibronix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAOV#NASDAQ">NAOV</a>) rose 54.1% to $0.5853 in pre-market trading.</li>
<li>X4 Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XFOR#NASDAQ">XFOR</a>) gained 40.1% to $1.03 in pre-market trading after jumping more than 52% on Wednesday.</li>
<li>MGO Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGOL#NASDAQ">MGOL</a>) gained 21.9% to $0.1240 in pre-market trading after dipping over 38% on Wednesday.</li>
<li>Carisma Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARM#NASDAQ">CARM</a>) gained 18.4% to $0.5980 in pre-market trading.</li>
<li>Alta Equipment Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTG#NYSE">ALTG</a>) rose 14.1% to $8.01 in pre-market trading.</li>
<li>Celestica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLS#NYSE">CLS</a>) shares jumped 13.1% to $113.66 in pre-market trading after the company reported better-than-expected fourth-quarter financial results and issued FY25 guidance above estimates.</li>
<li>Ranger Energy Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNGR#NYSE">RNGR</a>) gained 10.5% to $19.00 in pre-market trading.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 2.9% to $400.23 in pre-market trading. Tesla reported weaker-than-expected fourth-quarter earnings and sales results. The company, meanwhile, said it expects its vehicle business to return to growth in 2025. Tesla also promised to launch new and &#8220;more affordable&#8221; models in the first half of 2025, in addition to other promises regarding the deployment of autonomous vehicles and licensing of the company&#8217;s full self-driving (FSD) driver assistance software to rivals.</li>
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<h3 class="wp-block-heading">Losers</h3>
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<li>CARGO Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGX#NASDAQ">CRGX</a>) shares fell 74.3% to $3.39 in pre-market trading after the company announced it discontinued its FIRCE-1 Phase 2 study.</li>
<li>Nature&#8217;s Sunshine Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NATR#NASDAQ">NATR</a>) dipped 46.6% to $8.00 in pre-market trading.</li>
<li>Silexion Therapeutics Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLXN#NASDAQ">SLXN</a>) shares fell 32.4% to $2.12 in pre-market trading. Silexion Therapeutics announced exercise of warrants for $3.3 million gross proceeds.</li>
<li>Avalon Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AWX#NYSE">AWX</a>) fell 19.2% to $2.90 in today's pre-market trading.</li>
<li>Coincheck Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNCK#NASDAQ">CNCK</a>) shares dipped 17.1% to $7.00 in pre-market trading after falling 4% on Wednesday.</li>
<li>Varex Imaging Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VREX#NASDAQ">VREX</a>) shares tumbled 12.2% to $11.94 in pre-market trading. Varex Imaging will report unaudited financial results for the first quarter of fiscal year 2025 following the close of regular trading on Thursday, Feb. 6.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) fell 10.6% to $116.00 in pre-market trading after the company reported worse-than-expected fourth-quarter revenue results and issued FY25 guidance below estimates.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) fell 9.4% to $1,035.79 in pre-market trading after the company reported worse-than-expected quarterly revenue results.</li>
<li>Orthofix Medical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OFIX#NASDAQ">OFIX</a>) declined 9.1% to $17.01 in pre-market trading. Orthofix Medical will release its fourth quarter and full-year 2024 financial results on Tuesday, Feb. 25, before the opening bell.</li>
<li>First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) fell 6.8% to $41.00 in pre-market trading following fourth-quarter earnings.</li>
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Why Meta Platforms Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

Earnings Misses

First Bancorp Q4 EPS $0.08

Keefe, Bruyette &amp; Woods analyst Wood Lay maintains First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) with a Outperform and raises the price target from $49 to $56.

Keefe, Bruyette & Woods Maintains Outperform on First Bancorp, Raises Price Target to $56

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Shares of banking-related companies are trading higher after Donald Trump won the US presidential election.

First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) reported quarterly earnings of $0.70 per share which met the analyst consensus estimate. This is a 4.11 percent decrease over earnings of $0.73 per share from the same period last year.

First Bancorp Q3 Adj EPS $0.70, Inline

First Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBNC#NASDAQ">FBNC</a>) reported quarterly earnings of $0.45 per share which missed the analyst consensus estimate of $0.70 by 35.71 percent. This is a 38.36 percent decrease over earnings of $0.73 per share from the same period last year.

First Bancorp Q3 EPS $0.45 Misses $0.70 Estimate

UMB Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/umbf#NASDAQ">UMBF</a>) is gaining from balance-sheet strength on the back of increasing loan and deposit balances. Also, steady capital distributions are backed by a decent liquidity position. However, intense competition, along with elevated expenses, are major headwinds.
UMB Financial has a healthy balance sheet position. The company witnessed impressive net loan growth in the last three years (2020-2023), with compounded annual growth rate (CAGR) of 13%. Also, deposits saw a CAGR of 9.8% in the same time frame. The rising trend continued for both metrics in the first half of 2024. The acquisition of Heartland Financial will add meaningful loans and deposit balance, thus fortifying UMB Financial&#39;s balance sheet. Also, the strong deposit and loan pipeline are likely to support the company&#39;s financials.
UMBF has been diversifying its operations into non-interest sources to reduce the company&#39;s exposure on spread income. Non-interest income saw a CAGR of 6.2% for the four-year period that ended in 2023, with the rising trend continuing in the first half of 2024. The company&#39;s investment in revenue-producing capabilities is likely to support top-line growth. Going forward, diverse lines of business and verticals will keep aiding UMB Financial&#39;s non-interest income (NII).
The company&#39;s NII witnessed a CAGR of 8.2% in the last four years (ended 2023), with the uptrend continuing in the first half of 2024. UMBF&#39;s decent loan demand will further support the metric growth in the upcoming period. With the Federal Reserve indicating a rate cut beginning September 2024, the company&#39;s NII is likely to benefit further as funding costs will be stabilized.
As of Jun 30, 2024, UMB Financial had debt (comprising short-term and long-term debt) of $1.68 billion. Cash and due from banks and interest-bearing due from banks were $5.1 billion as of the same date. UMBF seems to be well placed in terms of its liquidity profile and expected to continue meeting the company&#39;s debt obligations even if the economic situation worsens.
UMB Financial has been raising dividends annually regularly since 2002, with the latest hike of 2.6% announced in October 2023. Also, the bank has a share repurchase plan in place. In the first quarter of 2024, the company approved the repurchase of up to one million shares of its common stock. These can take place at any point in time until its termination, following the 2025 annual meeting of the company&#39;s shareholders. The company has not repurchased any of its common shares to date. Given solid liquidity and a favorable debt-to-equity ratio and payout rate compared with the broader industry, its capital-distribution activities seem sustainable.
UMB Financial&#39;s return on equity (ROE) reflects its growth potential. The company&#39;s ROE of 14.23% compares favorably with 10.94% of the industry, reflecting UMFB&#39;s efficiency in using its shareholders&#39; funds.
The bank currently carries a Zacks Rank #2 (Buy). In the past three months, shares of UMBF have gained 15.8% compared with the industry&#39;s growth of 7.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/cd/74754.jpg?v=1730101067" />
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UMBF&#39;s current-year earnings has been revised upward in the past 30 days. This reflects that analysts are optimistic regarding its earnings growth potential.
Despite the above-mentioned tailwinds, cost escalation is the key concern for UMB Financial. The non-interest expenses flared up, seeing a CAGR of 6.4% in the last four years (2019-2023), with the trend continuing in the first half of 2024.
Though the company is focusing on improving its operating leverage, a rise in expenses based on higher salaries and employee benefits costs is likely to impede bottom-line growth in the upcoming period.
Additionally, the company faces intense competition in its business operations. The growing market share of FinTech companies and online service providers remains a key threat to traditional banks like UMB Financial. Also, these new entrants are not subject to the same level of regulations and supervision.
<h3>Other Stocks to Consider</h3>
A couple of other top-ranked finance stocks are First Community Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) and First Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fbnc#NASDAQ">FBNC</a>).
The consensus estimate for FCCO&#39;s current-year earnings has been revised 4.3% upward in the past 30 days. FCCO currently sports a Zacks Rank #1 (Strong Buy).
First Bancorp&#39;s current-year earnings estimate has been revised 11.3% upward in the past 30 days. FBNC currently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2324473/umb-financial-umbf-thrives-on-loan-growth-amid-rising-costs?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2324473">To read this article on Zacks.com click here.</a>

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FCCO

UMBF

UMB Financial Thrives on Loan Growth Amid Rising Costs

Adding Synovus Financial Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snv#NYSE">SNV</a>) stock to your portfolio seems to be a wise idea now. Supported by strong fundamentals, the company is well poised for growth.
The Zacks Consensus Estimate for SNV&#39;s 2024 earnings has been revised 4.9% upward in the past 30 days, indicating that analysts are optimistic regarding its earnings growth potential. SNV currently carries a Zacks Rank #2 (Buy).
In the past six months, the stock has risen 19.1% compared with the industry&#39;s growth of 16.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/77/74497.jpg?v=1605080004" />
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Let&#39;s delve into the other factors that make SNV an attractive investment option now.
Earnings Growth: The company&#39;s earnings have witnessed growth of 9.3% in the last three to five years. For 2024, SNV&#39;s earnings are expected to decline 1.5%, while the same is projected to rise 16% in 2025.
Synergy from Merger &amp; Acquisitions: SNV has been investing through mergers and acquisitions to enhance its operations and fortify its footprint in various areas. On Jun 1, 2023, Synovus acquired a 60% equity interest in Qualpay &mdash; a cloud-based platform that combines a payment gateway with a robust merchant processing solution. In 2019, it completed the acquisition of FCB Financial Holdings. It looks forward to tapping similar opportunities in the future as well.
Balance Sheet Strength: Synovus&#39; total debt (comprising long-term debt and other short-term borrowings) was $2.28 billion as of Jun 30, 2024, and cash and cash equivalents were $2.29 billion. The company enjoys long-term issuer credit ratings of BBB- and BBB from Standard &amp; Poor&#39;s and Fitch, respectively. This will likely enable the company to access the debt market at favorable rates. Given the company&#39;s decent cash levels and access to debt markets, it is expected to continue meeting debt obligations, even if the economic situation worsens.
Solid Capital Distributions: Synovus has an impressive capital deployment plan. In January 2024, the bank was authorized to repurchase shares up to $300 million of common stock. As of Jun 30, 2024, approximately $179.3 million worth of buyback authorization remained available. In March 2023, the company announced a 12% hike in its quarterly dividend to 38 cents per share after a 3% increase in 2022 and a 10% hike in 2020. Given the company&#39;s strong balance sheet and liquidity position, the continuation of its sustainable capital distribution activities will drive investors&#39; confidence in the stock.
Superior Return on Equity (ROE): Synovus&#39; trailing 12-month return on equity (ROE) reflects its superior utilization of shareholders&#39; funds. The company&#39;s ROE of 12.76% compares favorably with the industry&#39;s 9.07%.
<h3>Other Stocks Worth Considering</h3>
A couple of other top-ranked stocks from the same space are First Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fbnc#NASDAQ">FBNC</a>) and First Community Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>), each currently carrying a Zacks Rank #2.
First Bancorp&#39;s current-year earnings estimates have been revised 11.3% upward in the past 30 days. FBNC shares have gained 18.5% over the past six months.
The consensus estimate for FCCO&#39;s current-year earnings has been revised 9.9% upward over the past 60 days. In the past six months, FCCO&#39;s shares have increased 24.6%.
<a href="https://www.zacks.com/stock/news/2323332/5-reasons-to-add-synovus-snv-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2323332">To read this article on Zacks.com click here.</a>

5 Reasons to Add Synovus Stock to Your Portfolio Now

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