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

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

First Bancorp Stock Down 0.4 %

Shares of NASDAQ FNLC opened at $22.16 on Friday. The firm has a market cap of $246.64 million, a PE ratio of 8.94 and a beta of 0.56. The First Bancorp, Inc. has a 12-month low of $21.77 and a 12-month high of $29.16. The company’s fifty day simple moving average is $23.41 and its 200 day simple moving average is $24.62.

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

First Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in First Bancorp by 3.1% during the second quarter. BlackRock Inc. now owns 707,725 shares of the bank’s stock worth $17,226,000 after buying an additional 21,025 shares during the last quarter. Vanguard Group Inc. raised its holdings in First Bancorp by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 488,983 shares of the bank’s stock worth $13,799,000 after buying an additional 7,735 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in First Bancorp by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 477,321 shares of the bank’s stock worth $13,471,000 after buying an additional 1,917 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Bancorp by 1.5% during the first quarter. The Manufacturers Life Insurance Company now owns 430,391 shares of the bank’s stock worth $12,946,000 after buying an additional 6,227 shares during the last quarter. Finally, FMR LLC raised its holdings in First Bancorp by 2.6% during the third quarter. FMR LLC now owns 224,889 shares of the bank’s stock worth $5,285,000 after buying an additional 5,748 shares during the last quarter. 40.41% of the stock is owned by institutional investors.

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.