JPMorgan Chase & Co. Has $588,000 Stock Position in The First Bancorp, Inc. (NASDAQ:FNLC)

JPMorgan Chase & Co. grew its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 285.2% during the 3rd quarter, Holdings Channel reports. The firm owned 22,354 shares of the bank’s stock after buying an additional 16,551 shares during the period. JPMorgan Chase & Co.’s holdings in First Bancorp were worth $588,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FNLC. Rise Advisors LLC acquired a new position in shares of First Bancorp during the 3rd quarter worth approximately $37,000. Geode Capital Management LLC increased its holdings in shares of First Bancorp by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 225,659 shares of the bank’s stock worth $5,940,000 after acquiring an additional 1,599 shares during the last quarter. State Street Corp increased its holdings in shares of First Bancorp by 1.0% during the 3rd quarter. State Street Corp now owns 214,144 shares of the bank’s stock worth $5,636,000 after acquiring an additional 2,156 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First Bancorp during the 3rd quarter worth approximately $104,000. Finally, Stifel Financial Corp increased its holdings in shares of First Bancorp by 28.3% during the 3rd quarter. Stifel Financial Corp now owns 36,604 shares of the bank’s stock worth $963,000 after acquiring an additional 8,079 shares during the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Stock Up 2.1 %

FNLC stock opened at $25.74 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $287.00 million, a PE ratio of 10.64 and a beta of 0.58. The First Bancorp, Inc. has a 1-year low of $21.77 and a 1-year high of $31.05. The business’s 50 day simple moving average is $27.38 and its 200 day simple moving average is $26.88.

First Bancorp (NASDAQ:FNLC) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.65 earnings per share for the quarter. First Bancorp had a return on equity of 10.90% and a net margin of 16.37%.

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, January 6th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $1.44 annualized dividend and a yield of 5.59%. First Bancorp’s dividend payout ratio (DPR) is presently 59.50%.

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.