The First Bancorp, Inc. (NASDAQ:FNLC – Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 57,100 shares, an increase of 52.3% from the June 30th total of 37,500 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 17,000 shares, the short-interest ratio is presently 3.4 days.
First Bancorp Stock Performance
Shares of NASDAQ:FNLC traded down $0.47 during trading on Monday, reaching $28.95. The company had a trading volume of 1,844 shares, compared to its average volume of 16,598. The firm has a market capitalization of $322.50 million, a price-to-earnings ratio of 11.71 and a beta of 0.57. 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 stock’s fifty day moving average price is $24.60 and its 200 day moving average price is $24.08. First Bancorp has a fifty-two week low of $21.77 and a fifty-two week high of $29.75.
First Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Tuesday, July 9th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Tuesday, July 9th. This is a positive change from First Bancorp’s previous quarterly dividend of $0.35. First Bancorp’s dividend payout ratio is currently 58.06%.
Institutional Inflows and Outflows
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.
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