First Bancorp (FBNC) vs Merchants Bancorp (MBIN)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Merchants Bancorp (MBIN) has outperformed First Bancorp (FBNC) over the past year, gaining 53.8% versus a gain of 14.8%. Over five years, MBIN leads with a +77.2% price change compared with +28.4% for FBNC. First Bancorp is the larger company by market cap ($2.47 billion vs $2.29 billion), about 1.1 times the size.
On valuation, Merchants Bancorp trades at a lower forward P/E (8.3x vs 11.9x for First Bancorp). First Bancorp offers the higher dividend yield (1.57% vs 0.84%).
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FBNC | MBIN |
|---|---|---|
| Share price | $59.73 | $49.80 |
| Market cap | $2.47B | $2.29B |
| 1-day change | +1.37% | +0.97% |
| YTD return | +16.01% | +44.80% |
| 1-year return | +14.79% | +53.79% |
| 5-year return | +28.42% | +77.20% |
| P/E ratio (TTM) | 18.55 | 10.00 |
| Forward P/E | 11.85 | 8.29 |
| EPS (TTM) | $3.22 | $4.98 |
| Dividend yield | 1.57% | 0.84% |
| Annual dividend | $0.94 | $0.42 |
| Revenue (latest FY) | $67.62M | — |
| Revenue growth (YoY) | -3.57% | — |
| Net income (latest FY) | $111.05M | — |
| Net margin | 164.22% | — |
| 52-week high | $66.78 | $56.87 |
| 52-week low | $45.96 | $30.37 |
| Distance from 52-week high | -10.56% | -12.43% |
| Analyst consensus | buy | hold |
| Avg. price target upside | +15.85% | +28.51% |
| Average volume | 225.36K | 185.79K |
| Shares outstanding | 41.40M | 45.94M |
| Employees | 1,396 | 735 |
| Sector | Finance | Finance |
| Industry | Major Banks | Major Banks |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- MBIN has outperformed FBNC by 39.0 percentage points over the past year.
- First Bancorp trades at a higher earnings multiple (18.5x vs 10.0x trailing P/E).
About First Bancorp
FBNC stock →First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and businesses. The company accepts deposit products, such as checking, savings, and money market accounts; and time deposits, including certificate of deposits and individual retirement accounts.
Finance · Major Banks · 1,396 employees
About Merchants Bancorp
MBIN stock →Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking.
Finance · Major Banks · 735 employees
FBNC vs MBIN FAQ
Which is bigger, First Bancorp or Merchants Bancorp?
First Bancorp (FBNC) is larger, with a market capitalization of $2.47B compared with $2.29B for Merchants Bancorp (MBIN).
Which stock has performed better over the past year, FBNC or MBIN?
MBIN returned +53.79% over the past 12 months, compared with +14.79% for FBNC (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FBNC or MBIN?
MBIN has the lower trailing P/E at 10.0, versus 18.5 for FBNC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, First Bancorp or Merchants Bancorp?
First Bancorp has the higher yield at 1.57%, compared with 0.84% for Merchants Bancorp.
Are First Bancorp and Merchants Bancorp in the same industry?
Yes. Both are classified in the Major Banks industry within the Finance sector.