The first Bancorp, Inc. (NASDAQ: FNLC – Get a rating) Director Kimberley Swan purchased 1,000 shares of First Bancorp in a trade dated Monday, October 24. The shares were purchased at an average cost of $29.46 per share, for a total transaction of $29,460.00. Following completion of the transaction, the director now owns 6,334 shares of the company, valued at approximately $186,599.64. The purchase was disclosed in an SEC filing, available at this hyperlink.
First Bancorp shares up 0.8%
Shares of FNLC traded at $0.24 during Monday’s trading, reaching $29.49. The company’s shares had a trading volume of 10,285 shares, compared to an average volume of 15,933. The company has a market capitalization of $325.39 million, a price-earnings ratio of 8.08 and a beta of 0.50. The company has a fifty-day moving average of $28.92 and a two-hundred-day moving average of $29.32. The First Bancorp, Inc. has a 12-month low of $27.42 and a 12-month high of $36.80.
Bancorp’s first dividend announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 21. Shareholders of record on Wednesday, October 5 received a dividend of $0.34 per share. This represents an annualized dividend of $1.36 and a yield of 4.61%. The ex-dividend date was Tuesday, October 4. First Bancorp’s dividend payout ratio is currently 38.10%.
Wall Street analysts predict growth
Separately, StockNews.com assumed coverage on First Bancorp in a Wednesday, Oct. 12 research note. They set a “buy” rating for the company.
Institutional investors weigh in on First Bancorp
Hedge funds and other institutional investors have recently changed their stock holdings. BNP Paribas Arbitrage SA increased its stake in First Bancorp by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,595 shares in the bank valued at $78,000 after buying an additional 860 shares in the last quarter. Foundry Partners LLC increased its equity stake in First Bancorp by 1.4% in Q3. Foundry Partners LLC now owns 68,455 shares of the bank valued at $1,886,000 after acquiring 955 additional shares in the last quarter. Captrust Financial Advisors increased its stake in First Bancorp by 467.6% during the second quarter. Captrust Financial Advisors now owns 1,175 shares of the bank worth $35,000 after buying 968 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in First Bancorp by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,732 shares of the bank worth $52,000 after purchasing an additional 1,000 shares during the period. Finally, Amalgamated Bank purchased a new stake in First Bancorp during the first quarter for $38,000. Institutional investors hold 38.89% of the company’s shares.
First Bancorp Company Profile
The First Bancorp, Inc operates as a holding company for First National Bank which provides a range of personal and business banking products and services. It offers various deposit products including demand, NOW, savings, money market and certificates of deposit accounts. The Company also offers commercial real estate lending products, such as mortgage loans to finance investments in real estate including multi-family residential, commercial/retail, office, industrial, hotel, educational and other special purpose properties or mixed; commercial construction loans to finance the construction of owner-occupied and non-owner occupied commercial real estate; and other commercial loans, which include revolving and term loan obligations to companies and businesses for the purpose of financing working capital or capital investment.
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