The First Bancorp, Inc. (NASDAQ:FNLC) Announces Quarterly Dividend of $0.36

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

First Bancorp has raised its dividend by an average of 4.2% per year over the last three years and has increased its dividend every year for the last 6 years.

First Bancorp Trading Up 2.5 %

Shares of FNLC opened at $24.85 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $276.83 million, a price-to-earnings ratio of 10.02 and a beta of 0.58. The company has a 50-day moving average of $23.42 and a 200 day moving average of $24.35. First Bancorp has a 1-year low of $21.77 and a 1-year high of $29.16.

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

Insider Buying and Selling at First Bancorp

In other news, Director Kimberly Swan purchased 1,275 shares of the stock in a transaction dated 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 acquisition, the director now owns 9,837 shares of the company’s stock, valued at $219,463.47. The acquisition was disclosed in a legal filing with the SEC, 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.