Banner Corporation (BANR) vs First Bancorp (FBNC)

Banner Corporation and First Bancorp are both Banks Regional companies. Banner Corporation and First Bancorp are of similar size ($2.7B and $2.6B). Banner Corporation trades at the lower P/E: 11.8× against 16.3×. First Bancorp grew revenue faster over the last twelve months: 14.0% against 1.60%. First Bancorp has the higher net margin (26.7% vs 22.8%) and the higher return on invested capital (9.56% vs 8.93%). Both pay a dividend; Banner Corporation yields more (2.94% vs 1.46%). Across the 19 metrics below, First Bancorp leads on 10 and Banner Corporation on 9.

Valuation

Metric BANR FBNC Banks Regional median
P/E 11.84 16.34 12.02
P/S 2.75 4.37 2.36
P/B 1.14 1.56 1.23
Price to free cash flow 10.04 9.42 10.60
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.45% 6.12% 8.21%
Free cash flow yield 9.96% 10.61% 9.23%

Profitability

Metric BANR FBNC Banks Regional median
Gross margin 77.27% 75.68% 69.81%
Operating margin 0.00% 0.00% 0.00%
Net margin 22.81% 26.68% 18.82%
Free cash flow margin 27.41% 46.37% 17.97%
Return on equity 10.01% 9.85% 10.28%
Return on assets 1.17% 1.26% 1.13%
Return on invested capital 8.93% 9.56% 8.45%

Growth

Metric BANR FBNC Banks Regional median
Revenue growth (TTM) 1.60% 14.02% 6.37%
EPS growth (last fiscal year) 15.57% 45.65% 18.85%
Revenue growth, 5-year CAGR 7.28% 11.48% 12.65%
Net income growth, 5-year CAGR 11.00% 6.37% 9.81%

Health

Metric BANR FBNC Banks Regional median
Debt to equity 0.09 0.04 0.17
Current ratio 0.86 0.85 0.93
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BANR FBNC Banks Regional median
Dividend yield 2.94% 1.46% 2.49%
Payout ratio 0.35 0.24 0.29

Size

Metric BANR FBNC Banks Regional median
Market cap 2.56b 2.68b 934.85m

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