BlackRock Inc. purchased a new stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,057,719 shares of the bank’s stock, valued at approximately $379,456,000. BlackRock Inc. owned about 0.54% of First Bancorp, Inc (ME) at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. raised its position in shares of First Bancorp, Inc (ME) by 40.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank’s stock valued at $35,000 after buying an additional 383 shares in the last quarter. BNP Paribas Financial Markets increased its stake in First Bancorp, Inc (ME) by 36.6% in the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after acquiring an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised its position in First Bancorp, Inc (ME) by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after purchasing an additional 435 shares in the last quarter. Empowered Funds LLC raised its position in First Bancorp, Inc (ME) by 7.0% during the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock valued at $262,000 after purchasing an additional 608 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in First Bancorp, Inc (ME) by 3.9% during the second quarter. Rhumbline Advisers now owns 16,666 shares of the bank’s stock worth $423,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 40.41% of the company’s stock.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.
Insider Buying and Selling
In related news, EVP Sarah Tolman sold 5,200 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total transaction of $183,144.00. Following the completion of the sale, the executive vice president directly owned 2,191 shares in the company, valued at $77,167.02. This represents a 70.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.11% of the stock is owned by corporate insiders.
First Bancorp, Inc (ME) Price Performance
FNLC opened at $34.61 on Wednesday. The stock’s 50 day simple moving average is $34.46 and its 200 day simple moving average is $30.73. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. First Bancorp, Inc has a 1 year low of $24.08 and a 1 year high of $36.30. The firm has a market cap of $390.40 million, a price-to-earnings ratio of 10.27 and a beta of 0.50.
First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. The firm had revenue of $25.82 million during the quarter. First Bancorp, Inc (ME) had a return on equity of 13.30% and a net margin of 21.43%.
First Bancorp, Inc (ME) Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, July 7th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 4.4%. First Bancorp, Inc (ME)’s payout ratio is presently 45.10%.
First Bancorp, Inc (ME) Profile
First Bancorp, Inc (NASDAQ: FNLC) is a Maine-based bank holding company headquartered in Dover-Foxcroft. Through its principal subsidiary, The First National Bank of Dover-Foxcroft, the company provides a full suite of community banking services to individuals, small businesses and nonprofit organizations. Its core deposit offerings include checking, savings, money market and certificate of deposit accounts, complemented by online and mobile banking platforms.
On the lending side, First Bancorp’s product portfolio spans consumer and residential mortgage loans as well as commercial and agricultural lending.
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