SeaBridge Investment Advisors LLC Invests $341,000 in The First Bancorp, Inc. (NASDAQ:FNLC)

SeaBridge Investment Advisors LLC purchased a new position in shares of The First Bancorp, Inc. (NASDAQ:FNLC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,483 shares of the bank's stock, valued at approximately $341,000. SeaBridge Investment Advisors LLC owned approximately 0.11% of First Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FNLC. Geode Capital Management LLC raised its position in shares of First Bancorp by 0.7% in the third quarter. Geode Capital Management LLC now owns 225,659 shares of the bank's stock valued at $5,940,000 after buying an additional 1,599 shares during the last quarter. State Street Corp raised its holdings in First Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 214,144 shares of the bank's stock valued at $5,636,000 after acquiring an additional 2,156 shares during the last quarter. Foundry Partners LLC lifted its stake in First Bancorp by 14.9% in the 3rd quarter. Foundry Partners LLC now owns 71,170 shares of the bank's stock worth $1,873,000 after purchasing an additional 9,245 shares in the last quarter. Stifel Financial Corp boosted 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 purchasing an additional 8,079 shares during the last quarter. Finally, Barclays PLC grew its position in shares of First Bancorp by 80.1% in the third quarter. Barclays PLC now owns 23,135 shares of the bank's stock valued at $608,000 after purchasing an additional 10,288 shares in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.

First Bancorp Trading Up 0.1 %

NASDAQ FNLC traded up $0.03 on Wednesday, reaching $25.75. 6,543 shares of the company were exchanged, compared to its average volume of 26,018. 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 business's fifty day moving average price is $26.96 and its 200 day moving average price is $26.85. The stock has a market capitalization of $287.06 million, a P/E ratio of 10.64 and a beta of 0.57. The First Bancorp, Inc. has a fifty-two week low of $21.77 and a fifty-two week high of $31.05.

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

First Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, January 6th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Monday, January 6th. First Bancorp's payout ratio 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.