Bar Harbor Wealth Management Has $271,000 Stake in The First Bancorp, Inc. (NASDAQ:FNLC)

Bar Harbor Wealth Management boosted its holdings in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,970 shares of the bank’s stock after buying an additional 488 shares during the quarter. Bar Harbor Wealth Management’s holdings in First Bancorp were worth $271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in First Bancorp by 13,325.5% during the first quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock worth $169,000 after buying an additional 6,796 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of First Bancorp by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank’s stock valued at $208,000 after purchasing an additional 1,369 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of First Bancorp in the fourth quarter valued at about $266,000. Deutsche Bank AG grew its position in shares of First Bancorp by 73.5% in the fourth quarter. Deutsche Bank AG now owns 10,557 shares of the bank’s stock valued at $289,000 after purchasing an additional 4,472 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of First Bancorp in the fourth quarter valued at about $330,000. 40.41% of the stock is owned by institutional investors and hedge funds.

First Bancorp Trading Down 3.0%

Shares of NASDAQ:FNLC opened at $23.80 on Friday. The company has a market cap of $266.61 million, a P/E ratio of 9.83 and a beta of 0.53. The stock’s 50-day moving average is $24.13 and its 200-day moving average is $25.49. The First Bancorp, Inc. has a 52-week low of $22.11 and a 52-week high of $31.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.85 and a current ratio of 0.85.

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

First Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.05%. The ex-dividend date was Tuesday, April 8th. First Bancorp’s dividend payout ratio is currently 57.37%.

Insider Activity

In related news, Director Kimberly Swan bought 1,600 shares of First Bancorp stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $24.42 per share, for a total transaction of $39,072.00. Following the completion of the purchase, the director now owns 12,183 shares in the company, valued at approximately $297,508.86. This represents a 15.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ingrid Wilbur Kachmar bought 4,000 shares of First Bancorp stock in a transaction that occurred on Monday, April 28th. The stock was bought at an average price of $24.10 per share, with a total value of $96,400.00. Following the purchase, the director now owns 5,015 shares of the company’s stock, valued at $120,861.50. This trade represents a 394.09% increase in their position. The disclosure for this purchase can be found here. 5.09% of the stock is currently owned by company insiders.

First Bancorp 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.