SeaBridge Investment Advisors LLC Acquires Stake in The First Bancorp, Inc.

SeaBridge Investment Advisors LLC has recently announced the purchase of a new stake in The First Bancorp, Inc. (NASDAQ:FNLC) during the 4th quarter. This information comes from their latest filing with the Securities and Exchange Commission. The firm acquired 12,483 shares of the bank's stock, which is valued at approximately $341,000. By the end of the most recent quarter, SeaBridge Investment Advisors LLC held about 0.11% of First Bancorp.

Other institutional investors and hedge funds have also been active in regard to First Bancorp. For instance, Rise Advisors LLC acquired a new position in the company during the third quarter worth around $37,000. Similarly, SG Americas Securities LLC also gained a new stake in First Bancorp during the same quarter, valued at about $104,000. Additionally, Means Investment Co. Inc. invested approximately $226,000 in new shares of First Bancorp in the 3rd quarter. Another notable investor, Bath Savings Trust Co., purchased shares in the 4th quarter for approximately $245,000. Furthermore, JPMorgan Chase & Co. enhanced its ownership in First Bancorp by 285.2% during the 3rd quarter, bringing their total to 22,354 shares, valued at $588,000 after acquiring an additional 16,551 shares in the last quarter. It is worth noting that institutional investors now own 40.41% of First Bancorp’s stock.

Current Stock Performance of First Bancorp

As of recent trading, shares of NASDAQ: FNLC opened at $25.84. The company has a quick ratio and current ratio of 0.85, with a debt-to-equity ratio of 0.37. The 50-day moving average price stands at $27.10 while the 200-day moving average price is $26.88. With a market cap of $288.12 million, First Bancorp also has a PE ratio of 10.68 and a beta of 0.58. Over the past year, the stock has reached a low of $21.77 and a high of $31.05.

First Bancorp (NASDAQ:FNLC) recently disclosed its earnings results on January 22nd. The bank reported earnings of $0.65 per share for the last quarter. The return on equity for First Bancorp is 10.90%, with a net margin of 16.37%.

Recent Dividend Announcement

The company also declared a quarterly dividend, which was paid on January 16th. Shareholders of record on January 6th received a dividend of $0.36, with the ex-dividend date being the same date. This dividend translates to an annualized figure of $1.44, offering a yield of 5.57%. Currently, the dividend payout ratio (DPR) for First Bancorp is at 59.50%.

Profile of First Bancorp

The First Bancorp, Inc. serves as the holding company for First National Bank. It provides a wide range of banking products and services to both individuals and businesses. The bank's offerings include various deposit products such as demand accounts, NOW accounts, time deposits, savings accounts, money market accounts, and certificates of deposit. Moreover, it provides various types of commercial loans, notably including owner-occupied commercial real estate mortgages, loans for non-owner occupied commercial properties, and commercial construction loans for diverse real estate projects, along with commercial and industrial loans for working capital and investments.

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