First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) by 4.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 34,895 shares of the bank’s stock after selling 1,726 shares during the period. Bank of New York Mellon Corp owned about 0.31% of First Bancorp, Inc (ME) worth $863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FNLC. Bar Harbor Wealth Management lifted its stake in First Bancorp, Inc (ME) by 4.7% during the first quarter. Bar Harbor Wealth Management now owns 10,970 shares of the bank’s stock valued at $271,000 after buying an additional 488 shares in the last quarter. Naples Global Advisors LLC raised its holdings in shares of First Bancorp, Inc (ME) by 2.8% during the first quarter. Naples Global Advisors LLC now owns 17,817 shares of the bank’s stock valued at $440,000 after acquiring an additional 485 shares during the period. GAMMA Investing LLC lifted its position in shares of First Bancorp, Inc (ME) by 13,325.5% in the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock valued at $169,000 after acquiring an additional 6,796 shares in the last quarter. Deutsche Bank AG lifted its position in shares of First Bancorp, Inc (ME) by 73.5% in the 4th quarter. Deutsche Bank AG now owns 10,557 shares of the bank’s stock valued at $289,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in First Bancorp, Inc (ME) by 29.5% in the 4th quarter. Bank of America Corp DE now owns 14,935 shares of the bank’s stock worth $408,000 after purchasing an additional 3,401 shares during the period. 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 $24.78 on Friday. The company’s fifty day moving average is $25.16 and its two-hundred day moving average is $25.00. The company has a market cap of $277.54 million, a P/E ratio of 9.25 and a beta of 0.56. First Bancorp, Inc has a 12-month low of $22.11 and a 12-month high of $31.05. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.72 earnings per share for the quarter. The business had revenue of $22.54 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 11.70% and a net margin of 17.39%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th were issued a $0.37 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 6.0%. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.36. First Bancorp, Inc (ME)’s dividend payout ratio is currently 55.22%.

About First Bancorp, Inc (ME)

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.