15,175 Shares in First Bancorp, Inc (ME) $FNLC Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in First Bancorp, Inc (ME) (NASDAQ:FNLC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 15,175 shares of the bank’s stock, valued at approximately $951,000.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. grew 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 worth $25,000 after acquiring an additional 903 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of 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. raised its stake in shares of 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. Tower Research Capital LLC TRC boosted its holdings in shares of First Bancorp, Inc (ME) by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,133 shares during the period. Finally, State of Wyoming purchased a new stake in shares of First Bancorp, Inc (ME) in the second quarter valued at approximately $175,000. 40.41% of the stock is currently owned by institutional investors.

First Bancorp, Inc (ME) Stock Performance

FNLC stock opened at $34.46 on Thursday. First Bancorp, Inc has a 1-year low of $24.08 and a 1-year high of $36.30. The business has a 50-day moving average price of $34.56 and a 200 day moving average price of $30.76. The company has a market capitalization of $388.71 million, a P/E ratio of 10.23 and a beta of 0.50. 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 (ME) (NASDAQ:FNLC) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share (EPS) for the quarter. The company had revenue of $25.82 million for the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.30%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th were paid a dividend of $0.38 per share. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)’s payout ratio is 45.10%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP Sarah Tolman sold 5,200 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 2,191 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.11% of the company’s stock.

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.