Have Insiders Sold First Bancorp Shares Recently?

Anyone interested in The First Bancorp, Inc. (NASDAQ:FNLC) should probably be aware that a company insider, Sarah Tolman, recently divested US$183k worth of shares in the company, at an average price of US$35.22 each. That sale was 25% of their holding, so it does make us raise an eyebrow.

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The Last 12 Months Of Insider Transactions At First Bancorp

Notably, that recent sale by Sarah Tolman is the biggest insider sale of First Bancorp shares that we've seen in the last year. So what is clear is that an insider saw fit to sell at around the current price of US$34.94. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

Sarah Tolman ditched 5.38k shares over the year. The average price per share was US$34.92. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

See our latest analysis for First Bancorp

I will like First Bancorp better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.

Insider Ownership Of First Bancorp

Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. First Bancorp insiders own about US$22m worth of shares. That equates to 5.4% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Do The First Bancorp Insider Transactions Indicate?

An insider hasn't bought First Bancorp stock in the last three months, but there was some selling. Zooming out, the longer term picture doesn't give us much comfort. But it is good to see that First Bancorp is growing earnings. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing First Bancorp. For example, First Bancorp has 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about.

Of course First Bancorp may not be the best stock to buy. So you may wish to see this free collection of high quality companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.