The First Bancorp, Inc. (NASDAQ:FNLC) CAO Sells $14,515.00 in Stock

The First Bancorp, Inc. (NASDAQ:FNLC) CAO Susan A. Norton sold 500 shares of First Bancorp stock in a transaction on Friday, July 26th. The shares were sold at an average price of $29.03, for a total transaction of $14,515.00. Following the completion of the sale, the chief accounting officer now owns 24,415 shares in the company, valued at $708,767.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

First Bancorp Stock Up 0.6 %

Shares of FNLC stock opened at $29.42 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The First Bancorp, Inc. has a 1 year low of $21.77 and a 1 year high of $29.75. The firm’s fifty day moving average price is $24.60 and its two-hundred day moving average price is $24.08. The firm has a market capitalization of $327.74 million, a P/E ratio of 11.86 and a beta of 0.57.

First Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This is a positive change from First Bancorp’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 4.89%. First Bancorp’s payout ratio is currently 58.06%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Foundry Partners LLC increased its stake in shares of First Bancorp by 32.5% during the 1st quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock worth $1,301,000 after purchasing an additional 12,935 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of First Bancorp by 25.2% during the 4th quarter. SG Americas Securities LLC now owns 5,337 shares of the bank’s stock worth $151,000 after purchasing an additional 1,073 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of First Bancorp by 89.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock worth $121,000 after purchasing an additional 2,319 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Bancorp by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,663 shares of the bank’s stock worth $1,234,000 after purchasing an additional 4,477 shares during the last quarter. Finally, First Bancorp Inc ME increased its stake in shares of First Bancorp by 0.8% during the 2nd quarter. First Bancorp Inc ME now owns 732,959 shares of the bank’s stock worth $18,214,000 after purchasing an additional 5,755 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.