C&F Financial (CFFI) versus First Bancorp (FBNC) Critical Survey

C&F Financial (NASDAQ:CFFI) and First Bancorp (NASDAQ:FBNC) are both small-cap finance companies, but which is the superior investment? We will contrast the two companies based on the strength of their risk, dividends, earnings, profitability, valuation, institutional ownership and analyst recommendations.

Earnings & Valuation

This table compares C&F Financial and First Bancorp’s gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
C&F Financial $116.33 million 1.53 $6.57 million N/A N/A
First Bancorp $226.29 million 4.69 $45.97 million $1.85 19.31

First Bancorp has higher revenue and earnings than C&F Financial.

Institutional & Insider Ownership

35.4% of C&F Financial shares are owned by institutional investors. Comparatively, 66.2% of First Bancorp shares are owned by institutional investors. 6.2% of C&F Financial shares are owned by insiders. Comparatively, 1.9% of First Bancorp shares are owned by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.

Volatility & Risk

C&F Financial has a beta of 1.04, meaning that its stock price is 4% more volatile than the S&P 500. Comparatively, First Bancorp has a beta of 1, meaning that its stock price has a similar volatility profile to the S&P 500.


C&F Financial pays an annual dividend of $1.44 per share and has a dividend yield of 2.8%. First Bancorp pays an annual dividend of $0.40 per share and has a dividend yield of 1.1%. First Bancorp pays out 21.6% of its earnings in the form of a dividend. C&F Financial has raised its dividend for 6 consecutive years. C&F Financial is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.


This table compares C&F Financial and First Bancorp’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
C&F Financial 9.08% 11.98% 1.15%
First Bancorp 27.88% 10.92% 1.38%

Analyst Recommendations

This is a breakdown of current ratings and recommmendations for C&F Financial and First Bancorp, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
C&F Financial 0 0 0 0 N/A
First Bancorp 0 3 3 0 2.50

First Bancorp has a consensus price target of $42.00, suggesting a potential upside of 17.55%. Given First Bancorp’s higher possible upside, analysts clearly believe First Bancorp is more favorable than C&F Financial.


First Bancorp beats C&F Financial on 9 of the 15 factors compared between the two stocks.

About C&F Financial

C&F Financial Corporation operates as a holding company for Citizens and Farmers Bank that provides banking services to individuals and businesses. The company's Retail Banking segment offers various banking services, such as checking and savings deposit accounts, as well as business, real estate, development, mortgage, home equity, and installment loans. It also provides ATMs, Internet and mobile banking, and debit and credit cards, as well as safe deposit box rentals, notary public, electronic transfer, and other customary bank services. This segment offers its services through its main office in West Point, Virginia, as well as through 25 Virginia branches located 1 each in Cartersville, Chester, Cumberland, Hampton, Mechanicsville, Newport News, Norge, Powhatan, Providence Forge, Quinton, Saluda, Sandston, West Point, and Yorktown; 2 in Williamsburg; 4 in Richmond; and 4 in Midlothian. Its Mortgage Banking segment provides various residential mortgage loans; originates conventional mortgage loans, mortgage loans insured by the Federal Housing Administration, and mortgage loans guaranteed by the United States Department of Agriculture and the Veterans Administration; and ancillary mortgage loan origination services for residential appraisals, as well as various mortgage origination functions to third parties. This segment offers mortgage loan origination services through 11 offices in Virginia, 2 offices in Maryland, and 2 offices in North Carolina, as well as through 1 each in South Carolina and West Virginia. The company's Consumer Finance segment provides automobile loans through its offices in Richmond and Hampton, Virginia; and Nashville, Tennessee. Its Other segment offers brokerage and wealth management services; and insurance products. The company also provides title insurance services. C&F Financial Corporation was founded in 1927 and is based in West Point, Virginia.

About First Bancorp

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 primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificates of deposits and individual retirement accounts. The company also offers loans for a range of consumer and commercial purposes comprising loans for business, agriculture, real estate, personal, home improvement, and automobiles, as well as residential mortgages and SBA loans. In addition, it provides credit and debit cards, letters of credit, 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, the company 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. As of December 31, 2017, it operated 104 branches, including 98 branches in North Carolina and 6 branches in South Carolina. The company was founded in 1934 and is headquartered in Southern Pines, North Carolina.

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