The First Bancorp, Inc. (NASDAQ:FNLC) Stock Position Lowered by ProVise Management Group LLC

ProVise Management Group LLC trimmed its position in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,560 shares of the bank’s stock after selling 3,820 shares during the period. ProVise Management Group LLC owned 0.13% of First Bancorp worth $362,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FNLC. WASHINGTON TRUST Co purchased a new position in shares of First Bancorp during the second quarter valued at $25,000. BNP Paribas Financial Markets increased its holdings in shares of First Bancorp by 89.7% in 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 period. Quadrature Capital Ltd acquired a new position in shares of First Bancorp in the 1st quarter valued at about $214,000. Bright Financial Advisors Inc. acquired a new stake in shares of First Bancorp during the first quarter worth approximately $241,000. Finally, Rhumbline Advisers grew its position in First Bancorp by 7.7% during the second quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock valued at $398,000 after purchasing an additional 1,142 shares in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.

First Bancorp Stock Down 2.7 %

First Bancorp stock opened at $26.36 on Friday. The firm’s 50 day moving average price is $26.50 and its two-hundred day moving average price is $24.50. The firm has a market cap of $293.54 million, a PE ratio of 10.63 and a beta of 0.56. The First Bancorp, Inc. has a twelve month low of $21.77 and a twelve month high of $29.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 0.84.

First Bancorp (NASDAQ:FNLC) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $19.23 million during the quarter. First Bancorp had a return on equity of 11.01% and a net margin of 16.95%.

First Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.46%. This is a positive change from First Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, July 9th. First Bancorp’s payout ratio is currently 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.