29,324 Shares in First Bancorp, Inc (ME) $FNLC Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) in the second quarter, Holdings Channel.com reports. The institutional investor bought 29,324 shares of the bank’s stock, valued at approximately $1,837,000.

Several other institutional investors also recently bought and sold shares of FNLC. Rhino Investment Partners Inc purchased a new position in First Bancorp, Inc (ME) in the first quarter worth $1,362,000. Quantinno Capital Management LP lifted its holdings in shares of First Bancorp, Inc (ME) by 37.8% during the 1st quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank’s stock valued at $1,558,000 after purchasing an additional 15,263 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Bancorp, Inc (ME) by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after purchasing an additional 2,133 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of First Bancorp, Inc (ME) by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $53,000 after purchasing an additional 435 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in First Bancorp, Inc (ME) by 36.6% during 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. 40.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Bancorp, Inc (ME)

In other news, EVP Sarah Tolman sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total value of $183,144.00. Following the transaction, the executive vice president directly owned 2,191 shares of the company’s stock, valued at approximately $77,167.02. This trade represents a 70.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, First Bancorp, Inc (ME) presently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Stock Performance

FNLC opened at $35.62 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $401.79 million, a price-to-earnings ratio of 10.57 and a beta of 0.50. First Bancorp, Inc has a 52-week low of $24.08 and a 52-week high of $36.30. The firm’s fifty day simple moving average is $33.82 and its two-hundred day simple moving average is $30.36.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its earnings results on Wednesday, July 22nd. The bank reported $0.85 EPS for the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.30%. The business had revenue of $25.82 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.3%. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 45.10%.

First Bancorp, Inc (ME) Company 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.