Short Interest in The First Bancorp, Inc. (NASDAQ:FNLC) Rises By 17.9%

The First Bancorp, Inc. (NASDAQ:FNLC) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 33,000 shares, a growth of 17.9% from the February 13th total of 28,000 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 22,900 shares, the days-to-cover ratio is presently 1.4 days.

First Bancorp Price Performance

NASDAQ FNLC traded down $0.09 on Thursday, hitting $25.00. 219 shares of the company’s stock were exchanged, compared to its average volume of 17,431. The stock has a 50-day moving average of $25.62 and a 200-day moving average of $26.67. The stock has a market cap of $279.84 million, a price-to-earnings ratio of 10.33 and a beta of 0.53. First Bancorp has a 52 week low of $21.77 and a 52 week high of $31.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37.

First Bancorp (NASDAQ:FNLC) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.65 earnings per share for the quarter. First Bancorp had a return on equity of 10.90% and a net margin of 16.37%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Deutsche Bank AG increased its position in shares of First Bancorp by 73.5% during the fourth quarter. Deutsche Bank AG now owns 10,557 shares of the bank’s stock valued at $289,000 after acquiring an additional 4,472 shares during the last quarter. Bank of America Corp DE grew its stake in shares of First Bancorp by 29.5% during the 4th quarter. Bank of America Corp DE now owns 14,935 shares of the bank’s stock worth $408,000 after acquiring an additional 3,401 shares during the period. Northern Trust Corp increased its stake in shares of First Bancorp by 5.1% in the fourth quarter. Northern Trust Corp now owns 94,658 shares of the bank’s stock worth $2,589,000 after purchasing an additional 4,567 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in First Bancorp by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 473,481 shares of the bank’s stock valued at $12,949,000 after acquiring an additional 1,525 shares during the period. Finally, Barclays PLC lifted its holdings in shares of First Bancorp by 9.3% in the fourth quarter. Barclays PLC now owns 25,279 shares of the bank’s stock worth $692,000 after buying an additional 2,144 shares in the last quarter. Institutional investors own 40.41% of the company’s stock.

First Bancorp Company 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.