48,585 Shares in First Bancorp, Inc (ME) $FNLC Acquired by Rhino Investment Partners Inc

Rhino Investment Partners Inc acquired a new stake in First Bancorp, Inc (ME) (NASDAQ:FNLC) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 48,585 shares of the bank’s stock, valued at approximately $1,362,000. Rhino Investment Partners Inc owned about 0.43% of First Bancorp, Inc (ME) as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Empowered Funds LLC grew its holdings in shares of First Bancorp, Inc (ME) by 7.0% during the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock worth $262,000 after buying an additional 608 shares in the last quarter. Quantinno Capital Management LP lifted its stake in shares of First Bancorp, Inc (ME) by 37.8% in the first quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank’s stock worth $1,558,000 after buying an additional 15,263 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of First Bancorp, Inc (ME) by 54.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,168 shares of the bank’s stock worth $89,000 after buying an additional 1,119 shares in the last quarter. Bank of New York Mellon Corp boosted its position in First Bancorp, Inc (ME) by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 47,867 shares of the bank’s stock worth $1,342,000 after acquiring an additional 2,479 shares during the last quarter. Finally, Invesco Ltd. grew its stake in First Bancorp, Inc (ME) by 10.3% during the 4th quarter. Invesco Ltd. now owns 8,551 shares of the bank’s stock valued at $226,000 after acquiring an additional 799 shares in the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Bancorp, Inc (ME) Price Performance

Shares of FNLC opened at $35.46 on Wednesday. First Bancorp, Inc has a 1-year low of $24.08 and a 1-year high of $35.93. The stock has a market cap of $399.99 million, a PE ratio of 10.52 and a beta of 0.50. The firm has a 50-day simple moving average of $32.14 and a two-hundred day simple moving average of $29.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 EPS for the quarter. The firm 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 13.43%.

First Bancorp, Inc (ME) Increases Dividend

The company also recently announced 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 is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.3%. First Bancorp, Inc (ME)’s dividend payout ratio is presently 45.10%.

Insider Buying and Selling

In other news, Director Kimberly Swan purchased 1,500 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $28.69 per share, for a total transaction of $43,035.00. Following the completion of the purchase, the director directly owned 14,470 shares of the company’s stock, valued at approximately $415,144.30. This trade represents a 11.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.11% of the stock is owned by company insiders.

About First Bancorp, Inc (ME)

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.