BNP Paribas Financial Markets Trims Holdings in The First Bancorp, Inc. (NASDAQ:FNLC)

BNP Paribas Financial Markets trimmed its holdings in The First Bancorp, Inc. (NASDAQ:FNLC) by 35.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,445 shares of the bank’s stock after selling 790 shares during the quarter. BNP Paribas Financial Markets’ holdings in First Bancorp were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FNLC. JPMorgan Chase & Co. grew its holdings in First Bancorp by 75.0% during the 4th quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank’s stock valued at $1,070,000 after buying an additional 16,767 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in First Bancorp during the 4th quarter valued at approximately $386,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in First Bancorp during the 4th quarter valued at approximately $330,000. Trexquant Investment LP purchased a new stake in First Bancorp during the 4th quarter valued at approximately $266,000. Finally, Northern Trust Corp grew its holdings in First Bancorp by 5.1% during the 4th quarter. Northern Trust Corp now owns 94,658 shares of the bank’s stock valued at $2,589,000 after buying an additional 4,567 shares in the last quarter. 40.41% of the stock is owned by hedge funds and other institutional investors.

First Bancorp Trading Up 1.5%

Shares of FNLC opened at $24.36 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.85. The First Bancorp, Inc. has a 1 year low of $22.11 and a 1 year high of $31.05. The company has a 50 day simple moving average of $24.16 and a two-hundred day simple moving average of $25.68. The firm has a market cap of $272.88 million, a P/E ratio of 10.07 and a beta of 0.53.

First Bancorp (NASDAQ:FNLC) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter. First Bancorp had a net margin of 16.37% and a return on equity of 10.90%. The business had revenue of $21.80 million during the quarter.

First Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Tuesday, April 8th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date was Tuesday, April 8th. First Bancorp’s dividend payout ratio (DPR) is presently 57.37%.

Insider Activity at First Bancorp

In other First Bancorp news, Director Kimberly Swan bought 1,600 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost of $24.42 per share, with a total value of $39,072.00. Following the completion of the acquisition, the director now owns 12,183 shares in the company, valued at $297,508.86. This trade represents a 15.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ingrid Wilbur Kachmar bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was acquired at an average cost of $24.10 per share, with a total value of $96,400.00. Following the completion of the acquisition, the director now owns 5,015 shares of the company’s stock, valued at $120,861.50. This represents a 394.09% increase in their position. The disclosure for this purchase can be found here. 5.09% of the stock is currently owned by insiders.

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.