The First Bancorp, Inc. (NASDAQ:FNLC) Shares Sold by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC lessened its stake in The First Bancorp, Inc. (NASDAQ:FNLC) by 50.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,000 shares of the bank’s stock after selling 10,000 shares during the quarter. Catalyst Financial Partners LLC owned about 0.09% of First Bancorp worth $282,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FNLC. FMR LLC increased its stake in First Bancorp by 2.6% during the third 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 last quarter. Bank of New York Mellon Corp increased its stake in First Bancorp by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 97,661 shares of the bank’s stock worth $2,295,000 after acquiring an additional 1,613 shares during the last quarter. SG Americas Securities LLC increased its stake in First Bancorp by 25.2% during the fourth quarter. SG Americas Securities LLC now owns 5,337 shares of the bank’s stock worth $151,000 after acquiring an additional 1,073 shares during the last quarter. Finally, SouthState Corp acquired a new stake in First Bancorp during the third quarter worth $38,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

Insiders Place Their Bets

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

First Bancorp Trading Up 1.2 %

FNLC stock traded up $0.28 during midday trading on Wednesday, hitting $23.28. 10,820 shares of the company’s stock were exchanged, compared to its average volume of 15,660. The business has a 50-day simple moving average of $23.08 and a two-hundred day simple moving average of $24.57. The stock has a market capitalization of $259.11 million, a PE ratio of 9.39 and a beta of 0.57. The First Bancorp, Inc. has a 1-year low of $21.77 and a 1-year high of $29.16.

First Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $1.40 annualized dividend and a yield of 6.01%. First Bancorp’s dividend payout ratio (DPR) is 56.45%.

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.