First Bancorp Inc ME Reduces Holdings in The First Bancorp, Inc. (NASDAQ:FNLC)

First Bancorp Inc ME decreased its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 726,289 shares of the bank’s stock after selling 6,670 shares during the quarter. First Bancorp accounts for about 13.3% of First Bancorp Inc ME’s investment portfolio, making the stock its biggest position. First Bancorp Inc ME owned about 6.52% of First Bancorp worth $19,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in First Bancorp by 89.7% in the first quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after buying an additional 2,319 shares in the last quarter. Foundry Partners LLC boosted its position in First Bancorp by 32.5% in the first quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock valued at $1,301,000 after buying an additional 12,935 shares in the last quarter. Bright Financial Advisors Inc. acquired a new position in First Bancorp in the first quarter valued at about $241,000. Vanguard Group Inc. boosted its position in First Bancorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 492,518 shares of the bank’s stock valued at $12,136,000 after buying an additional 3,535 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of First Bancorp during the first quarter worth approximately $214,000. Institutional investors own 40.41% of the company’s stock.

First Bancorp Price Performance

Shares of FNLC stock traded down $0.19 during trading hours on Friday, reaching $27.51. 17,662 shares of the company were exchanged, compared to its average volume of 16,297. The First Bancorp, Inc. has a fifty-two week low of $21.77 and a fifty-two week high of $29.75. The stock’s fifty day moving average is $26.26 and its two-hundred day moving average is $24.89. The company has a market cap of $306.35 million, a price-to-earnings ratio of 11.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.84.

First Bancorp (NASDAQ:FNLC) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.55 earnings per share for the quarter. The business had revenue of $19.23 million during the quarter. First Bancorp had a net margin of 16.95% and a return on equity of 11.01%.

First Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Tuesday, October 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date was Tuesday, October 8th. First Bancorp’s dividend payout ratio (DPR) is 58.06%.

First Bancorp Profile

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.