Naples Global Advisors LLC Purchases 485 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

Naples Global Advisors LLC grew its position in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,817 shares of the bank’s stock after purchasing an additional 485 shares during the period. Naples Global Advisors LLC owned about 0.16% of First Bancorp worth $440,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of First Bancorp by 75.0% during the fourth quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank’s stock valued at $1,070,000 after buying an additional 16,767 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of First Bancorp during the fourth quarter valued at about $386,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Bancorp during the fourth quarter valued at about $330,000. Trexquant Investment LP bought a new position in shares of First Bancorp during the fourth quarter valued at about $266,000. Finally, GAMMA Investing LLC grew its stake in shares of First Bancorp by 13,325.5% in the first quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock worth $169,000 after purchasing an additional 6,796 shares during the last quarter. Institutional investors own 40.41% of the company’s stock.

First Bancorp Stock Up 1.7%

NASDAQ FNLC opened at $24.45 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 stock has a market capitalization of $273.89 million, a PE ratio of 10.10 and a beta of 0.53. The First Bancorp, Inc. has a 1 year low of $22.11 and a 1 year high of $31.05. The business’s 50-day moving average is $24.12 and its 200 day moving average is $25.61.

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

First Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Tuesday, April 8th were issued a $0.36 dividend. The ex-dividend date was Tuesday, April 8th. This represents a $1.44 dividend on an annualized basis and a yield of 5.89%. First Bancorp’s payout ratio is currently 57.37%.

Insider Buying and Selling

In related news, Director Ingrid Wilbur Kachmar bought 4,000 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was acquired at an average cost 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 approximately $120,861.50. This represents a 394.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimberly Swan acquired 1,600 shares of First Bancorp stock in a transaction dated Thursday, April 24th. The stock was bought at an average price of $24.42 per share, with a total value of $39,072.00. Following the completion of the purchase, the director now directly owns 12,183 shares in the company, valued at $297,508.86. This represents a 15.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.09% of the stock is owned by company insiders.

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.