The First Bancorp, Inc. (NASDAQ:FNLC) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in The First Bancorp, Inc. (NASDAQ:FNLC - Free Report) by 75.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,121 shares of the bank's stock after buying an additional 16,767 shares during the period. JPMorgan Chase & Co. owned about 0.35% of First Bancorp worth $1,070,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of First Bancorp by 11.6% in the 4th quarter. SG Americas Securities LLC now owns 4,421 shares of the bank's stock worth $121,000 after purchasing an additional 458 shares during the last quarter. Bath Savings Trust Co acquired a new position in First Bancorp in the fourth quarter worth about $245,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in First Bancorp in the fourth quarter valued at about $330,000. SeaBridge Investment Advisors LLC bought a new stake in First Bancorp in the fourth quarter valued at about $341,000. Finally, Proficio Capital Partners LLC acquired a new stake in First Bancorp during the fourth quarter valued at approximately $386,000. 40.41% of the stock is owned by institutional investors and hedge funds.

First Bancorp Price Performance

Shares of FNLC opened at $23.98 on Monday. The First Bancorp, Inc. has a 52 week low of $21.79 and a 52 week high of $31.05. 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 cap of $268.48 million, a price-to-earnings ratio of 9.91 and a beta of 0.48. The stock has a 50 day moving average of $24.58 and a 200-day moving average of $26.21.

First Bancorp (NASDAQ:FNLC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter. First Bancorp had a return on equity of 10.90% and a net margin of 16.37%. The firm had revenue of $21.80 million for the quarter.

First Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.01%. The ex-dividend date was Tuesday, April 8th. First Bancorp's dividend payout ratio (DPR) is presently 57.37%.

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.

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