The First Bancorp, Inc. (NASDAQ:FNLC – Get Free Report)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.31 and traded as high as $27.50. First Bancorp shares last traded at $27.34, with a volume of 6,390 shares traded.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded First Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th.
Get Our Latest Research Report on FNLC
First Bancorp Trading Up 2.0 %
First Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Stockholders of record on Monday, July 10th were given a dividend of $0.35 per share. This is a positive change from First Bancorp’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, July 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.12%. First Bancorp’s dividend payout ratio (DPR) is 44.73%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in FNLC. Catalyst Financial Partners LLC purchased a new position in First Bancorp in the 2nd quarter valued at $487,000. Coston McIsaac & Partners lifted its holdings in First Bancorp by 1.3% in the 2nd quarter. Coston McIsaac & Partners now owns 32,340 shares of the bank’s stock valued at $787,000 after purchasing an additional 421 shares in the last quarter. HM Payson & Co. lifted its holdings in First Bancorp by 2.3% in the 2nd quarter. HM Payson & Co. now owns 19,901 shares of the bank’s stock valued at $484,000 after purchasing an additional 454 shares in the last quarter. State Street Corp lifted its holdings in First Bancorp by 2.5% in the 1st quarter. State Street Corp now owns 192,113 shares of the bank’s stock valued at $4,974,000 after purchasing an additional 4,620 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in First Bancorp by 3.4% in the 1st quarter. Geode Capital Management LLC now owns 176,122 shares of the bank’s stock valued at $4,560,000 after purchasing an additional 5,771 shares in the last quarter. Hedge funds and other institutional investors own 40.22% of the company’s stock.
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 also offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts. The company 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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