First Bancorp said on March 30, 2023 that its board of directors declared a regular
quarterly dividend of $0.34 per share ($1.36 annualized).
Previously, the company paid $0.34 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend.
Shareholders of record as of April 10, 2023
will receive the payment on April 20, 2023.
At the current share price of $25.89 / share,
the stock’s dividend yield is 5.25%.
Looking back five years and taking a sample every week, the average dividend yield has been
4.53%,
the lowest has been 3.21%,
and the highest has been 6.59%.
The standard deviation of yields is 0.64 (n=236).
The current dividend yield is
1.12 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.39.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.13%,
demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 195 funds or institutions reporting positions in First Bancorp.
This is an increase
of
3
owner(s) or 1.56% in the last quarter.
Average portfolio weight of all funds dedicated to FNLC is 0.12%,
an increase
of 4.00%.
Total shares owned by institutions increased
in the last three months by 2.50% to 5,111K shares.
The put/call ratio of FNLC is 2.00, indicating a
bearish
outlook.
What are Large Shareholders Doing?
First Bancorp
holds 735K shares
representing 6.63% ownership of the company.
In it’s prior filing, the firm reported owning 735K shares, representing
a decrease
of 0.07%.
The firm
increased
its portfolio allocation in FNLC by 0.69% over the last quarter.
Manufacturers Life Insurance Company, The
holds 416K shares
representing 3.76% ownership of the company.
In it’s prior filing, the firm reported owning 419K shares, representing
a decrease
of 0.64%.
The firm
decreased
its portfolio allocation in FNLC by 99.90% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 303K shares
representing 2.73% ownership of the company.
In it’s prior filing, the firm reported owning 296K shares, representing
an increase
of 2.18%.
The firm
increased
its portfolio allocation in FNLC by 2.60% over the last quarter.
IWM – iShares Russell 2000 ETF
holds 247K shares
representing 2.23% ownership of the company.
In it’s prior filing, the firm reported owning 227K shares, representing
an increase
of 7.98%.
The firm
increased
its portfolio allocation in FNLC by 6.96% over the last quarter.
John Hancock Financial Opportunities Fund
holds 246K shares
representing 2.22% ownership of the company.
No change in the last quarter.
First Bancorp Inc Background Information
(This description is provided by the company.)
The First Bancorp (formerly First National Lincoln Corporation), is a $2.4 billion bank holding company based in Damariscotta, Maine. The company’s subsidiary, First National Bank (formerly The First, N.A.), was established in 1864 and now has 17 branches located along Maine’s coast from Wiscasset to Calais and one inland branch in Bangor. With a strong coastal presence, the Bank is well positioned to take advantage of the mix of both new and traditional industries and the growth generally seen in Maine’s coastal counties.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
