Vanguard Group Inc. Purchases 3,535 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

Vanguard Group Inc. boosted its position in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 0.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 492,518 shares of the bank’s stock after purchasing an additional 3,535 shares during the period. Vanguard Group Inc. owned about 4.43% of First Bancorp worth $12,136,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FNLC. BNP Paribas Financial Markets lifted its holdings in First Bancorp by 89.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after purchasing an additional 2,319 shares during the last quarter. SG Americas Securities LLC increased its position in First Bancorp by 25.2% in the 4th quarter. SG Americas Securities LLC now owns 5,337 shares of the bank’s stock valued at $151,000 after acquiring an additional 1,073 shares in the last quarter. Bright Financial Advisors Inc. acquired a new stake in First Bancorp in the 1st quarter valued at about $241,000. Finally, Foundry Partners LLC increased its position in First Bancorp by 32.5% in the 1st quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock valued at $1,301,000 after acquiring an additional 12,935 shares in the last quarter. 40.41% of the stock is owned by institutional investors.

First Bancorp Trading Up 2.2 %

FNLC opened at $24.02 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $267.49 million, a PE ratio of 9.69 and a beta of 0.57. The First Bancorp, Inc. has a 1-year low of $21.77 and a 1-year high of $29.75. The firm has a 50-day moving average price of $24.92 and a two-hundred day moving average price of $24.05.

First Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Tuesday, July 9th. This is a boost from First Bancorp’s previous quarterly dividend of $0.35. First Bancorp’s dividend payout ratio (DPR) is presently 58.06%.

First Bancorp 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.