ProVise Management Group LLC Sells 3,820 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

ProVise Management Group LLC lessened its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 20.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,560 shares of the bank’s stock after selling 3,820 shares during the quarter. ProVise Management Group LLC’s holdings in First Bancorp were worth $362,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. WASHINGTON TRUST Co bought a new stake in First Bancorp during the second quarter worth approximately $25,000. Rhumbline Advisers boosted its holdings in shares of First Bancorp by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock worth $398,000 after buying an additional 1,142 shares during the period. BNP Paribas Financial Markets grew its stake in First Bancorp by 89.7% in the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after buying an additional 2,319 shares during the last quarter. Vanguard Group Inc. raised its holdings in First Bancorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 492,518 shares of the bank’s stock worth $12,136,000 after acquiring an additional 3,535 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in First Bancorp by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,663 shares of the bank’s stock worth $1,234,000 after acquiring an additional 4,477 shares during the last quarter. 40.41% of the stock is owned by institutional investors.

First Bancorp Trading Down 2.7 %

Shares of NASDAQ:FNLC opened at $26.36 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s 50-day moving average is $26.50 and its 200-day moving average is $24.50. The company has a market cap of $293.54 million, a P/E ratio of 10.63 and a beta of 0.56. The First Bancorp, Inc. has a 52-week low of $21.77 and a 52-week high of $29.75.

First Bancorp (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $0.55 EPS for the quarter. First Bancorp had a return on equity of 11.01% and a net margin of 16.95%. The company had revenue of $19.23 million for the quarter.

First Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were paid a dividend of $0.36 per share. This is a boost from First Bancorp’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend was Tuesday, July 9th. First Bancorp’s dividend payout ratio is presently 58.06%.

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.