Bank of New York Mellon Corp decreased its holdings in First Bancorp Inc (NASDAQ:FNLC) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,359 shares of the bank’s stock after selling 2,536 shares during the period. Bank of New York Mellon Corp owned about 0.65% of First Bancorp worth $2,133,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in FNLC. Foundry Partners LLC grew its position in shares of First Bancorp by 8.3% in the third quarter. Foundry Partners LLC now owns 115,070 shares of the bank’s stock valued at $3,488,000 after purchasing an additional 8,775 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Bancorp by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 356,827 shares of the bank’s stock valued at $9,656,000 after purchasing an additional 17,169 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of First Bancorp by 4.7% in the second quarter. The Manufacturers Life Insurance Company now owns 457,508 shares of the bank’s stock valued at $12,380,000 after purchasing an additional 20,666 shares during the last quarter. Menta Capital LLC acquired a new position in shares of First Bancorp in the second quarter valued at approximately $376,000. Finally, State Street Corp grew its position in shares of First Bancorp by 9.1% in the second quarter. State Street Corp now owns 179,411 shares of the bank’s stock valued at $4,855,000 after purchasing an additional 14,952 shares during the last quarter. Hedge funds and other institutional investors own 32.03% of the company’s stock.
Separately, BidaskClub downgraded First Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 30th.
First Bancorp Inc (NASDAQ:FNLC) opened at $27.72 on Tuesday. First Bancorp Inc has a 12-month low of $25.00 and a 12-month high of $32.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $300.14, a P/E ratio of 15.93 and a beta of 0.64.
First Bancorp (NASDAQ:FNLC) last posted its earnings results on Wednesday, October 18th. The bank reported $0.46 EPS for the quarter. First Bancorp had a return on equity of 10.68% and a net margin of 26.51%. The company had revenue of $15.45 million for the quarter.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Monday, January 8th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, January 5th. First Bancorp’s payout ratio is 55.17%.
First Bancorp Profile
The First Bancorp, Inc is the bank holding company of First National Bank (the Bank). The Bank offers a range of financial services to individuals and companies in coastal Maine. The Company, through First Advisors, a division of the Bank, offers a range of private banking, financial planning, investment management and trust services to individuals, businesses, non-profit organizations and municipalities of various asset sizes.
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