Coston McIsaac & Partners Lowers Stake in The First Bancorp, Inc. (NASDAQ:FNLC)

Coston McIsaac & Partners lessened its stake in The First Bancorp, Inc. (NASDAQ:FNLC) by 7.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,445 shares of the bank’s stock after selling 2,513 shares during the period. Coston McIsaac & Partners’ holdings in First Bancorp were worth $804,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNLC. Rise Advisors LLC acquired a new stake in shares of First Bancorp in the third quarter valued at $37,000. SG Americas Securities LLC acquired a new position in First Bancorp in the 3rd quarter valued at about $104,000. Means Investment CO. Inc. purchased a new stake in First Bancorp during the third quarter worth about $226,000. Bath Savings Trust Co acquired a new stake in shares of First Bancorp during the fourth quarter worth about $245,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of First Bancorp by 285.2% in the third quarter. JPMorgan Chase & Co. now owns 22,354 shares of the bank’s stock valued at $588,000 after purchasing an additional 16,551 shares during the period. Hedge funds and other institutional investors own 40.41% of the company’s stock.

First Bancorp Price Performance

Shares of FNLC opened at $26.01 on Thursday. The company has a market cap of $290.01 million, a P/E ratio of 10.75 and a beta of 0.58. The First Bancorp, Inc. has a fifty-two week low of $21.77 and a fifty-two week high of $31.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average price is $27.23 and its 200 day moving average price is $26.88.

First Bancorp (NASDAQ:FNLC) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.65 earnings per share for the quarter. First Bancorp had a return on equity of 10.90% and a net margin of 16.37%.

First Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, January 6th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Monday, January 6th. First Bancorp’s dividend payout ratio is currently 59.50%.

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.