JPMorgan Chase & Co. Raises Stake in The First Bancorp, Inc. (NASDAQ:FNLC)

JPMorgan Chase & Co. grew its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC - Free Report) by 75.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,121 shares of the bank's stock after acquiring an additional 16,767 shares during the period. JPMorgan Chase & Co. owned about 0.35% of First Bancorp worth $1,070,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Bancorp during the 4th quarter valued at about $330,000. Proficio Capital Partners LLC bought a new position in shares of First Bancorp during the fourth quarter valued at approximately $386,000. Rhumbline Advisers increased its holdings in First Bancorp by 12.1% during the fourth quarter. Rhumbline Advisers now owns 17,003 shares of the bank's stock valued at $465,000 after buying an additional 1,831 shares during the period. SeaBridge Investment Advisors LLC bought a new position in First Bancorp in the fourth quarter worth approximately $341,000. Finally, SG Americas Securities LLC lifted its holdings in First Bancorp by 11.6% during the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the bank's stock worth $121,000 after buying an additional 458 shares during the period. Hedge funds and other institutional investors own 40.41% of the company's stock.

First Bancorp Stock Up 1.7 %

Shares of NASDAQ:FNLC traded up $0.41 on Friday, reaching $24.78. The company had a trading volume of 1,876 shares, compared to its average volume of 18,607. The firm has a market capitalization of $277.38 million, a PE ratio of 10.24 and a beta of 0.48. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The First Bancorp, Inc. has a 52-week low of $22.11 and a 52-week high of $31.05. The firm's 50 day simple moving average is $24.48 and its 200-day simple moving average is $26.16.

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

First Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Tuesday, April 8th were paid a dividend of $0.36 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.44 annualized dividend and a dividend yield of 5.81%. First Bancorp's dividend payout ratio (DPR) is presently 57.37%.

Insider Activity at First Bancorp

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

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.