Charles Schwab Investment Management Inc. Purchases 687 Shares of First Bancorp, Inc (ME) $FNLC

Charles Schwab Investment Management Inc. grew its position in First Bancorp, Inc (ME) (NASDAQ:FNLC) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,569 shares of the bank’s stock after purchasing an additional 687 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.26% of First Bancorp, Inc (ME) worth $731,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in First Bancorp, Inc (ME) by 13,325.5% during the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock worth $169,000 after buying an additional 6,796 shares in the last quarter. Wells Fargo & Company MN lifted its position in First Bancorp, Inc (ME) by 22.0% during the 4th quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank’s stock worth $208,000 after buying an additional 1,369 shares in the last quarter. Bar Harbor Wealth Management lifted its position in First Bancorp, Inc (ME) by 4.7% during the 1st quarter. Bar Harbor Wealth Management now owns 10,970 shares of the bank’s stock worth $271,000 after buying an additional 488 shares in the last quarter. Deutsche Bank AG raised its holdings 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 purchasing an additional 4,472 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of 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 valued at $408,000 after purchasing an additional 3,401 shares during the period. 40.41% of the stock is owned by institutional investors.

First Bancorp, Inc (ME) Stock Down 0.5%

Shares of FNLC stock opened at $27.04 on Wednesday. The firm’s 50-day moving average is $26.06 and its 200-day moving average is $25.05. The stock has a market cap of $303.12 million, a price-to-earnings ratio of 10.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 0.86. First Bancorp, Inc has a 52-week low of $22.11 and a 52-week high of $31.05.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, July 23rd. The bank reported $0.72 earnings per share for the quarter. The firm had revenue of $22.54 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 11.60% and a net margin of 17.39%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Tuesday, July 8th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.5%. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, July 8th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 55.22%.

First Bancorp, Inc (ME) Company Profile

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.