The First Bancorp, Inc. (NASDAQ:FNLC) Director Purchases 1,275 Shares of Stock

The First Bancorp, Inc. (NASDAQ:FNLC) Director Kimberly Swan acquired 1,275 shares of the stock in a transaction dated Thursday, April 18th. The shares were purchased at an average price of $22.31 per share, for a total transaction of $28,445.25. Following the completion of the purchase, the director now directly owns 9,837 shares in the company, valued at $219,463.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Bancorp Stock Performance

First Bancorp stock opened at $22.16 on Friday. The stock has a 50-day simple moving average of $23.41 and a 200 day simple moving average of $24.62. The stock has a market capitalization of $246.64 million, a P/E ratio of 8.94 and a beta of 0.56. The First Bancorp, Inc. has a 52 week low of $21.77 and a 52 week high of $29.16.

First Bancorp (NASDAQ:FNLC) last issued its earnings results on Wednesday, January 24th. The bank reported $0.60 EPS for the quarter. The company had revenue of $19.96 million during the quarter. First Bancorp had a return on equity of 11.79% and a net margin of 18.41%.

First Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Tuesday, April 9th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.40 annualized dividend and a dividend yield of 6.32%. First Bancorp’s dividend payout ratio is currently 56.45%.

Institutional Trading of First Bancorp

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in First Bancorp by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 488,983 shares of the bank’s stock valued at $13,799,000 after buying an additional 7,735 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of First Bancorp by 7.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 24,587 shares of the bank’s stock valued at $694,000 after purchasing an additional 1,668 shares during the last quarter. Barclays PLC increased its stake in shares of First Bancorp by 107.9% during the fourth quarter. Barclays PLC now owns 22,663 shares of the bank’s stock worth $639,000 after purchasing an additional 11,764 shares during the period. Nuveen Asset Management LLC lifted its holdings in First Bancorp by 30.9% during the 4th quarter. Nuveen Asset Management LLC now owns 28,537 shares of the bank’s stock worth $805,000 after purchasing an additional 6,742 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in First Bancorp in the 4th quarter valued at $310,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Company Profile

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.