JPMorgan Chase & Co. Acquires 16,551 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

JPMorgan Chase & Co. increased its holdings in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 285.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,354 shares of the bank’s stock after purchasing an additional 16,551 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of First Bancorp worth $588,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of First Bancorp by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 225,659 shares of the bank’s stock valued at $5,940,000 after purchasing an additional 1,599 shares in the last quarter. State Street Corp lifted its holdings in shares of First Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 214,144 shares of the bank’s stock valued at $5,636,000 after purchasing an additional 2,156 shares in the last quarter. Foundry Partners LLC raised its position in First Bancorp by 14.9% in the 3rd quarter. Foundry Partners LLC now owns 71,170 shares of the bank’s stock valued at $1,873,000 after buying an additional 9,245 shares during the last quarter. Stifel Financial Corp raised its position in First Bancorp by 28.3% in the 3rd quarter. Stifel Financial Corp now owns 36,604 shares of the bank’s stock valued at $963,000 after buying an additional 8,079 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in First Bancorp in the 2nd quarter valued at approximately $848,000. Institutional investors own 40.41% of the company’s stock.

First Bancorp Stock Up 2.1 %

Shares of First Bancorp stock opened at $25.74 on Tuesday. The business’s 50 day simple moving average is $27.38 and its 200 day simple moving average is $26.88. The First Bancorp, Inc. has a 52-week low of $21.77 and a 52-week high of $31.05. The firm has a market cap of $287.00 million, a PE ratio of 10.64 and a beta of 0.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.85 and a current ratio of 0.85.

First Bancorp (NASDAQ:FNLC) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.65 earnings per share (EPS) 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 announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, January 6th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Monday, January 6th. First Bancorp’s dividend payout ratio is presently 59.50%.

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.