Surpassing Expectations: First Bancorp Unleashes Growth Potential and Rewards Investors
Portfolio Pulse from Benzinga Insights
First Bancorp (NASDAQ:FNLC) is set to distribute a dividend payout of $0.35 per share, resulting in an annualized dividend yield of 5.99%. The company has seen an increase in its dividend per share from $1.19 in 2019 to $1.34 in 2022, and an increase in earnings per share from $2.33 to $3.57 over the same period. First Bancorp's dividend yield is mid-range among its industry peers, with First of Long Island (NASDAQ:FLIC) having the highest annualized dividend yield at 8.00%.
October 20, 2023 | 3:05 pm
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POSITIVE IMPACT
First of Long Island boasts the highest annualized dividend yield at 8.00% among its industry peers.
First of Long Island's high annualized dividend yield could potentially attract income-seeking investors and positively impact the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
First Bancorp's dividend payout and steady growth in dividends and earnings per share indicate a strong financial position, which could potentially attract income-seeking investors.
The increase in dividend per share and earnings per share from 2019 to 2022 indicates that First Bancorp is financially healthy and capable of maintaining its dividend payout schedule. This could potentially attract income-seeking investors and positively impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100