Dimensional Fund Advisors LP Grows Stake in The First Bancorp, Inc. (NASDAQ:FNLC)

Dimensional Fund Advisors LP grew its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 473,481 shares of the bank’s stock after purchasing an additional 1,525 shares during the quarter. Dimensional Fund Advisors LP’s holdings in First Bancorp were worth $12,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC raised its holdings in shares of First Bancorp by 9.3% during the 4th quarter. Barclays PLC now owns 25,279 shares of the bank’s stock valued at $692,000 after buying an additional 2,144 shares during the period. Wells Fargo & Company MN raised its stake in shares of First Bancorp by 22.0% during the fourth quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank’s stock valued at $208,000 after purchasing an additional 1,369 shares during the period. Trexquant Investment LP acquired a new position in shares of First Bancorp during the fourth quarter worth $266,000. JPMorgan Chase & Co. boosted its stake in shares of First Bancorp by 75.0% in the fourth quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank’s stock valued at $1,070,000 after purchasing an additional 16,767 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in First Bancorp during the 4th quarter valued at $330,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Insider Transactions at First Bancorp

In related news, Director Ingrid Wilbur Kachmar bought 4,000 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were acquired at an average price of $24.10 per share, for a total transaction of $96,400.00. Following the purchase, the director now owns 5,015 shares in the company, valued at $120,861.50. This trade represents a 394.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kimberly Swan purchased 1,600 shares of First Bancorp stock in a transaction dated Thursday, April 24th. The shares were bought at an average cost of $24.42 per share, for a total transaction of $39,072.00. Following the transaction, the director now directly owns 12,183 shares of the company’s stock, valued at approximately $297,508.86. The trade was a 15.12 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 5.09% of the company’s stock.

First Bancorp Stock Performance

Shares of FNLC stock opened at $24.46 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day moving average price is $24.34 and its two-hundred day moving average price is $26.06. The firm has a market capitalization of $273.85 million, a P/E ratio of 10.11 and a beta of 0.53. The First Bancorp, Inc. has a 12 month low of $22.11 and a 12 month high of $31.05.

First Bancorp (NASDAQ:FNLC) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.63 EPS for the quarter. The business had revenue of $21.80 million for the quarter. First Bancorp had a return on equity of 10.90% and a net margin of 16.37%.

First Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend was Tuesday, April 8th. First Bancorp’s dividend payout ratio (DPR) is currently 57.37%.

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.