Kimelman & Baird LLC Makes New Investment in First Bancorp, Inc (ME) $FNLC

Posted by Brian Himes on Aug 29th, 2026

Kimelman & Baird LLC acquired a new stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,625 shares of the bank’s stock, valued at approximately $1,240,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in First Bancorp, Inc (ME) by 2,655.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after buying an additional 903 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after buying an additional 415 shares during the last quarter. Legal & General Group Plc purchased a new stake in First Bancorp, Inc (ME) in the second quarter valued at approximately $39,000. PNC Financial Services Group Inc. grew its stake in shares of First Bancorp, Inc (ME) by 27.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after buying an additional 435 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in First Bancorp, Inc (ME) by 540.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after acquiring an additional 2,133 shares during the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Price Performance

Shares of NASDAQ FNLC opened at $34.76 on Friday. The company has a market capitalization of $392.09 million, a price-to-earnings ratio of 10.31 and a beta of 0.50. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $34.73 and a two-hundred day moving average of $30.82. First Bancorp, Inc has a twelve month low of $24.08 and a twelve month high of $36.30.

First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.30% and a net margin of 21.43%.The firm had revenue of $25.82 million for the quarter.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.52 annualized dividend and a yield of 4.4%. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 45.10%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

View Our Latest Report on First Bancorp, Inc (ME)

Insiders Place Their Bets

In other news, EVP Sarah Tolman sold 5,200 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 2,191 shares of the company’s stock, valued at approximately $77,167.02. This represents a 70.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.11% of the stock is currently owned by company insiders.

First Bancorp, Inc (ME) Profile

(Free Report)

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.