The First Bancorp, Inc. (NASDAQ:FNLC) Short Interest Update

The First Bancorp, Inc. (NASDAQ:FNLC) saw a large increase in short interest in 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. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 13,400 shares, the days-to-cover ratio is currently 2.1 days.

First Bancorp Stock Down 1.6 %

Shares of FNLC traded down $0.41 during mid-day trading on Monday, reaching $24.44. The company’s stock had a trading volume of 4,871 shares, compared to its average volume of 15,554. First Bancorp has a 12-month low of $21.77 and a 12-month high of $29.16. The stock has a market cap of $272.26 million, a PE ratio of 10.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.83 and a quick ratio of 0.83. The company’s 50 day moving average is $23.42 and its 200 day moving average is $24.33.

First Bancorp (NASDAQ:FNLC) last announced 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 return on equity of 11.68% and a net margin of 18.41%.

First Bancorp Increases Dividend

The company 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 $0.36 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This is a boost from First Bancorp’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.89%. First Bancorp’s dividend payout ratio is 56.45%.

Insiders Place Their Bets

In other First Bancorp news, Director Kimberly Swan acquired 1,275 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were acquired at an average price of $22.31 per share, for a total transaction of $28,445.25. Following the acquisition, the director now owns 9,837 shares in the company, valued at approximately $219,463.47. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 6.01% of the stock is owned by company insiders.

Institutional Trading of First Bancorp

A number of large investors have recently made changes to their positions in FNLC. Vanguard Group Inc. lifted its position in First Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 492,518 shares of the bank’s stock worth $12,136,000 after acquiring an additional 3,535 shares during the period. FMR LLC lifted its position in First Bancorp by 2.6% during the 3rd quarter. FMR LLC now owns 224,889 shares of the bank’s stock worth $5,285,000 after acquiring an additional 5,748 shares during the period. Foundry Partners LLC lifted its position in First Bancorp by 32.5% during 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. Bright Financial Advisors Inc. acquired a new stake in First Bancorp during the 1st quarter worth approximately $241,000. Finally, Quadrature Capital Ltd acquired a new stake in First Bancorp during the 1st quarter worth approximately $214,000. 40.41% of the stock is owned by institutional investors and hedge funds.

About First Bancorp

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.