The First Bancorp, Inc. (NASDAQ:FNLC) Declares $0.34 Quarterly Dividend

The First Bancorp, Inc. (NASDAQ:FNLCGet Rating) declared a quarterly dividend on Wednesday, September 21st, Zacks reports. Shareholders of record on Wednesday, October 5th will be given a dividend of 0.34 per share by the bank on Friday, October 21st. This represents a $1.36 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Tuesday, October 4th.

First Bancorp has raised its dividend payment by an average of 4.6% annually over the last three years and has raised its dividend every year for the last 3 years.

First Bancorp Stock Performance

FNLC traded up $0.17 during trading on Friday, hitting $28.38. 11,082 shares of the stock were exchanged, compared to its average volume of 11,446. The firm has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $29.57. The firm has a market cap of $313.03 million, a price-to-earnings ratio of 8.16 and a beta of 0.51. First Bancorp has a 1 year low of $27.52 and a 1 year high of $36.80.

First Bancorp (NASDAQ:FNLCGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The bank reported $0.91 EPS for the quarter. The company had revenue of $22.78 million for the quarter. First Bancorp had a return on equity of 16.18% and a net margin of 38.63%.

Institutional Trading of First Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in shares of First Bancorp by 1.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 430,391 shares of the bank’s stock worth $12,946,000 after purchasing an additional 6,227 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of First Bancorp by 4.4% in the 1st quarter. Renaissance Technologies LLC now owns 166,795 shares of the bank’s stock worth $5,017,000 after purchasing an additional 7,100 shares in the last quarter. FMR LLC boosted its position in shares of First Bancorp by 57.4% in the 2nd quarter. FMR LLC now owns 137,091 shares of the bank’s stock worth $4,131,000 after purchasing an additional 49,984 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of First Bancorp by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 96,157 shares of the bank’s stock worth $2,892,000 after purchasing an additional 4,908 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of First Bancorp by 117.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 46,377 shares of the bank’s stock worth $1,397,000 after purchasing an additional 25,062 shares in the last quarter. Institutional investors own 38.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday.

About First Bancorp

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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, savings, money market, and certificates of deposit accounts. The company also provides commercial real estate loan products, such as mortgage loans to finance investments in real property comprising multi-family residential, commercial/retail, office, industrial, hotel, educational, and other specific or mixed use properties; commercial construction loans to finance construction of owner- and non-owner occupied commercial real estate properties; and other commercial loans, which include revolving and term loan obligations to business and corporate enterprises for the purpose of financing working capital or capital investment.

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Dividend History for First Bancorp (NASDAQ:FNLC)

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