The First Bancorp, Inc. (NASDAQ:FNLC) Plans Dividend Increase – $0.36 Per Share

The First Bancorp, Inc. (NASDAQ:FNLC) declared a quarterly dividend on Thursday, June 27th, Zacks reports. Investors of record on Tuesday, July 9th will be paid a dividend of 0.36 per share by the bank on Friday, July 19th. This represents a $1.44 annualized dividend and a dividend yield of 5.79%. The ex-dividend date of this dividend is Tuesday, July 9th. This is an increase from First Bancorp’s previous quarterly dividend of $0.35.

First Bancorp has raised its dividend payment by an average of 4.2% annually over the last three years and has increased its dividend annually for the last 6 consecutive years.

First Bancorp Stock Up 2.5 %

FNLC opened at $24.85 on Friday. First Bancorp has a 1-year low of $21.77 and a 1-year high of $29.16. The stock’s fifty day simple moving average is $23.42 and its 200 day simple moving average is $24.35. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The stock has a market cap of $276.83 million, a PE ratio of 10.02 and a beta of 0.58.

First Bancorp (NASDAQ:FNLC) last released its quarterly earnings data on Wednesday, April 17th. The bank reported $0.54 earnings per share for the quarter. The business had revenue of $18.52 million for the quarter. First Bancorp had a return on equity of 11.68% and a net margin of 18.41%.

Insider Buying and Selling at First Bancorp

In other First Bancorp news, Director Kimberly Swan purchased 1,275 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were acquired at an average cost of $22.31 per share, for a total transaction of $28,445.25. Following the completion of the acquisition, the director now owns 9,837 shares of the company’s stock, valued at approximately $219,463.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.01% of the company’s stock.

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.