Foundry Partners LLC Sells 710 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

Foundry Partners LLC lowered its stake in The First Bancorp, Inc. (NASDAQ:FNLC) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,850 shares of the bank’s stock after selling 710 shares during the quarter. Foundry Partners LLC’s holdings in First Bancorp were worth $1,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FNLC. SouthState Corp bought a new position in shares of First Bancorp in the third quarter worth about $38,000. SG Americas Securities LLC bought a new position in First Bancorp in the 3rd quarter valued at approximately $100,000. Bank of New York Mellon Corp raised its holdings in First Bancorp by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 97,661 shares of the bank’s stock valued at $2,295,000 after buying an additional 1,613 shares during the last quarter. Finally, FMR LLC raised its holdings in First Bancorp by 2.6% in the 3rd quarter. FMR LLC now owns 224,889 shares of the bank’s stock valued at $5,285,000 after buying an additional 5,748 shares during the last quarter. Institutional investors own 40.41% of the company’s stock.

First Bancorp Price Performance

Shares of NASDAQ FNLC opened at $22.86 on Tuesday. The company has a 50 day simple moving average of $23.33 and a 200 day simple moving average of $24.64. The firm has a market cap of $254.43 million, a PE ratio of 9.22 and a beta of 0.56. The First Bancorp, Inc. has a 1 year low of $21.77 and a 1 year high of $29.16.

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

First Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Tuesday, April 9th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.40 dividend on an annualized basis and a yield of 6.12%. First Bancorp’s dividend payout ratio (DPR) is presently 56.45%.

Insider Activity at First Bancorp

In other news, Director Kimberly Swan bought 1,275 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was acquired at an average price of $22.31 per share, with a total value of $28,445.25. Following the transaction, the director now owns 9,837 shares of the company’s stock, valued at approximately $219,463.47. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 6.01% of the stock is owned by company insiders.

First Bancorp 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.