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

The First Bancorp, Inc. (NASDAQ:FNLC) Director Kimberly Swan purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average cost of $22.31 per share, for a total transaction of $28,445.25. Following the completion of the transaction, the director now owns 9,837 shares in the company, valued at approximately $219,463.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Bancorp Trading Up 3.7 %

FNLC stock opened at $22.99 on Friday. The First Bancorp, Inc. has a 12-month low of $21.77 and a 12-month high of $29.16. The firm has a market cap of $255.88 million, a P/E ratio of 9.27 and a beta of 0.56. The stock’s 50 day simple moving average is $23.38 and its 200 day simple moving average is $24.62.

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

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Monday, April 8th. First Bancorp’s dividend payout ratio (DPR) is 56.45%.

Hedge Funds Weigh In On First Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of FNLC. Bank of New York Mellon Corp boosted its holdings in shares of First Bancorp by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 96,157 shares of the bank’s stock valued at $2,892,000 after acquiring an additional 4,908 shares during the period. American Century Companies Inc. raised its stake in shares of First Bancorp by 27.4% during the first quarter. American Century Companies Inc. now owns 16,668 shares of the bank’s stock valued at $501,000 after purchasing an additional 3,582 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of First Bancorp during the first quarter valued at about $58,000. MetLife Investment Management LLC raised its stake in shares of First Bancorp by 57.0% during the first quarter. MetLife Investment Management LLC now owns 5,900 shares of the bank’s stock valued at $177,000 after purchasing an additional 2,142 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of First Bancorp by 4.4% during the first quarter. Renaissance Technologies LLC now owns 166,795 shares of the bank’s stock valued at $5,017,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

About First Bancorp

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.