The First Bancorp, Inc. (NASDAQ:FNLC) Director Acquires $28,445.25 in Stock

The First Bancorp, Inc. (NASDAQ:FNLC - Get Free Report) Director Kimberly Swan purchased 1,275 shares of First Bancorp stock in a transaction on Thursday, April 18th. The shares were acquired at an average price of $22.31 per share, for a total transaction of $28,445.25. Following the completion of the transaction, the director now directly owns 9,837 shares of the company's stock, valued at $219,463.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

First Bancorp Price Performance

NASDAQ FNLC traded up $0.83 on Friday, reaching $22.99. 20,784 shares of the company's stock traded hands, compared to its average volume of 16,325. The First Bancorp, Inc. has a 12 month low of $21.77 and a 12 month high of $29.16. The stock has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $24.62. The stock has a market cap of $255.88 million, a PE ratio of 9.27 and a beta of 0.56.

First Bancorp (NASDAQ:FNLC - Get Free Report) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.60 earnings per share for the quarter. The firm had revenue of $19.96 million during the quarter. First Bancorp had a return on equity of 11.79% and a net margin of 18.41%.

First Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date is Monday, April 8th. First Bancorp's dividend payout ratio (DPR) is presently 56.45%.

Institutional Trading of First Bancorp

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of First Bancorp by 3.1% during the second quarter. BlackRock Inc. now owns 707,725 shares of the bank's stock valued at $17,226,000 after purchasing an additional 21,025 shares during the period. Vanguard Group Inc. lifted its stake in First Bancorp by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 488,983 shares of the bank's stock worth $13,799,000 after acquiring an additional 7,735 shares during the period. Dimensional Fund Advisors LP lifted its stake in First Bancorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 477,321 shares of the bank's stock worth $13,471,000 after acquiring an additional 1,917 shares during the period. The Manufacturers Life Insurance Company lifted its stake in First Bancorp by 1.5% in the first quarter. The Manufacturers Life Insurance Company now owns 430,391 shares of the bank's stock worth $12,946,000 after acquiring an additional 6,227 shares during the period. Finally, FMR LLC lifted its stake in First Bancorp by 2.6% in the third quarter. FMR LLC now owns 224,889 shares of the bank's stock worth $5,285,000 after acquiring an additional 5,748 shares during the period. Hedge funds and other institutional investors own 40.41% of the company's stock.

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.