The First Bancorp, Inc. (NASDAQ:FNLC) Short Interest Up 13.4% in June

The First Bancorp, Inc. (NASDAQ:FNLC) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 27,900 shares, an increase of 13.4% from the May 31st total of 24,600 shares. Based on an average trading volume of 13,400 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.3% of the company’s shares are short sold.

Insider Activity

In related news, Director Kimberly Swan acquired 1,275 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was bought at an average price of $22.31 per share, with a total value of $28,445.25. Following the purchase, the director now directly owns 9,837 shares in the company, valued at approximately $219,463.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.01% of the company’s stock.

Institutional Trading of First Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of FNLC. BNP Paribas Financial Markets boosted its holdings in First Bancorp by 89.7% in the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock worth $121,000 after acquiring an additional 2,319 shares during the period. SG Americas Securities LLC boosted its holdings in First Bancorp by 25.2% in the 4th quarter. SG Americas Securities LLC now owns 5,337 shares of the bank’s stock worth $151,000 after acquiring an additional 1,073 shares during the period. Quadrature Capital Ltd purchased a new position in First Bancorp in the 1st quarter worth approximately $214,000. Bright Financial Advisors Inc. purchased a new position in First Bancorp in the 1st quarter worth approximately $241,000. Finally, Foundry Partners LLC boosted its holdings in First Bancorp by 32.5% in the 1st quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock worth $1,301,000 after acquiring an additional 12,935 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Trading Down 3.5 %

FNLC traded down $0.88 on Wednesday, reaching $24.23. 12,784 shares of the company’s stock were exchanged, compared to its average volume of 15,658. The company’s 50 day moving average is $23.51 and its 200-day moving average is $24.31. The company has a market cap of $269.92 million, a price-to-earnings ratio of 10.13 and a beta of 0.57. First Bancorp has a twelve month low of $21.77 and a twelve month high of $29.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 0.83.

First Bancorp (NASDAQ:FNLC) last posted its earnings results on Wednesday, April 17th. The bank reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $18.52 million during the quarter. First Bancorp had a net margin of 18.41% and a return on equity of 11.68%.

First Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Tuesday, July 9th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date is Tuesday, July 9th. This is an increase from First Bancorp’s previous quarterly dividend of $0.35. First Bancorp’s dividend payout ratio is 56.45%.

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.