Livforsakringsbolaget Skandia Omsesidigt bought a new position in First Bancorp, Inc (ME) (NASDAQ:FNLC – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 39,800 shares of the bank’s stock, valued at approximately $2,493,000. Livforsakringsbolaget Skandia Omsesidigt owned 0.35% of First Bancorp, Inc (ME) as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of First Bancorp, Inc (ME) by 2,655.9% during the third quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after buying an additional 903 shares during the period. Legal & General Group Plc bought a new position in shares of First Bancorp, Inc (ME) in the second quarter valued at approximately $39,000. BNP Paribas Financial Markets grew its stake in First Bancorp, Inc (ME) by 36.6% during 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 in the last quarter. PNC Financial Services Group Inc. grew its stake 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 acquiring an additional 435 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in First Bancorp, Inc (ME) by 540.0% during the 2nd 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 period. Hedge funds and other institutional investors own 40.41% of the company’s stock.
Insider Buying and Selling
In other First Bancorp, Inc (ME) news, EVP Sarah Tolman sold 5,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total value 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 $77,167.02. The trade was a 70.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.11% of the stock is currently owned by corporate insiders.
First Bancorp, Inc (ME) Price Performance
First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share (EPS) 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 during the quarter.
First Bancorp, Inc (ME) Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were given a dividend of $0.38 per share. The ex-dividend date was Tuesday, July 7th. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 4.4%. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 45.10%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.
Check Out Our Latest Stock Report on First Bancorp, Inc (ME)
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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