Bank of America Corp DE Increases Position in The First Bancorp, Inc. (NASDAQ:FNLC)

Bank of America Corp DE lifted its position in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 29.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,935 shares of the bank’s stock after buying an additional 3,401 shares during the period. Bank of America Corp DE owned 0.13% of First Bancorp worth $408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of First Bancorp by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank’s stock worth $208,000 after acquiring an additional 1,369 shares in the last quarter. Trexquant Investment LP bought a new position in shares of First Bancorp in the 4th quarter worth about $266,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Bancorp in the 4th quarter worth about $330,000. Proficio Capital Partners LLC bought a new position in shares of First Bancorp in the 4th quarter worth about $386,000. Finally, Rhumbline Advisers lifted its position in shares of First Bancorp by 12.1% in the 4th quarter. Rhumbline Advisers now owns 17,003 shares of the bank’s stock worth $465,000 after buying an additional 1,831 shares during the last quarter. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Insider Activity at First Bancorp

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

First Bancorp Stock Down 0.2%

FNLC stock opened at $24.54 on Friday. The First Bancorp, Inc. has a fifty-two week low of $22.11 and a fifty-two week high of $31.05. The stock has a market cap of $274.90 million, a PE ratio of 10.14 and a beta of 0.53. The firm’s 50-day simple moving average is $24.12 and its 200 day simple moving average is $25.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.37.

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

First Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.87%. The ex-dividend date was Tuesday, April 8th. First Bancorp’s dividend payout ratio (DPR) is currently 57.37%.

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.