The First Bancorp, Inc. (NASDAQ:FNLC) Stake Lessened by Foundry Partners LLC

Foundry Partners LLC cut its stake in The First Bancorp, Inc. (NASDAQ:FNLC) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,850 shares of the bank’s stock after selling 710 shares during the period. Foundry Partners LLC owned approximately 0.36% of First Bancorp worth $1,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FNLC. FMR LLC boosted its holdings in shares of First Bancorp by 2.6% in the third quarter. FMR LLC now owns 224,889 shares of the bank’s stock valued at $5,285,000 after acquiring an additional 5,748 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of First Bancorp in the third quarter valued at approximately $100,000. Bank of New York Mellon Corp boosted its holdings in shares of First Bancorp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 97,661 shares of the bank’s stock valued at $2,295,000 after acquiring an additional 1,613 shares in the last quarter. Finally, SouthState Corp bought a new position in shares of First Bancorp in the third quarter valued at approximately $38,000. 40.41% of the stock is currently owned by institutional investors.

First Bancorp Price Performance

First Bancorp stock opened at $22.86 on Tuesday. The firm has a 50 day simple moving average of $23.33 and a 200-day simple moving average of $24.64. The stock has a market capitalization of $254.43 million, a PE ratio of 9.22 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.

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

First Bancorp Announces Dividend

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

Insider Activity at First Bancorp

In other First Bancorp news, Director Kimberly Swan bought 1,275 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was acquired at an average cost of $22.31 per share, with a total value 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.01% of the company’s stock.

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.