Means Investment CO. Inc. Sells 500 Shares of First Bancorp, Inc (ME) (NASDAQ:FNLC)

Means Investment CO. Inc. decreased its holdings in First Bancorp, Inc (ME) (NASDAQ:FNLC) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,116 shares of the bank’s stock after selling 500 shares during the period. Means Investment CO. Inc.’s holdings in First Bancorp, Inc (ME) were worth $201,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in First Bancorp, Inc (ME) by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 473,481 shares of the bank’s stock valued at $12,949,000 after buying an additional 1,525 shares during the period. Northern Trust Corp lifted its holdings in First Bancorp, Inc (ME) by 5.1% in the fourth quarter. Northern Trust Corp now owns 94,658 shares of the bank’s stock valued at $2,589,000 after buying an additional 4,567 shares during the period. JPMorgan Chase & Co. lifted its holdings in First Bancorp, Inc (ME) by 75.0% in the fourth quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank’s stock valued at $1,070,000 after buying an additional 16,767 shares during the period. Barclays PLC lifted its holdings in First Bancorp, Inc (ME) by 9.3% in the fourth quarter. Barclays PLC now owns 25,279 shares of the bank’s stock valued at $692,000 after buying an additional 2,144 shares during the period. Finally, Naples Global Advisors LLC lifted its holdings in First Bancorp, Inc (ME) by 2.8% in the first quarter. Naples Global Advisors LLC now owns 17,817 shares of the bank’s stock valued at $440,000 after buying an additional 485 shares during the period. Institutional investors own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Price Performance

FNLC stock opened at $23.83 on Friday. The firm has a market cap of $266.90 million, a price-to-earnings ratio of 9.49 and a beta of 0.53. 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 has a 12-month low of $22.11 and a 12-month high of $31.05. The company’s fifty day simple moving average is $24.17 and its 200 day simple moving average is $25.31.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its earnings results on Wednesday, April 23rd. The bank reported $0.63 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a net margin of 16.60% and a return on equity of 11.09%. The business had revenue of $21.80 million for the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Tuesday, April 8th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, April 8th. This represents a $1.44 annualized dividend and a dividend yield of 6.04%. First Bancorp, Inc (ME)’s dividend payout ratio is currently 57.37%.

Insider Activity

In related news, Director Kimberly Swan acquired 1,600 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $24.42 per share, for a total transaction of $39,072.00. Following the completion of the acquisition, the director now owns 12,183 shares of the company’s stock, valued at approximately $297,508.86. This trade represents a 15.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ingrid Wilbur Kachmar acquired 4,000 shares of the company’s stock in a transaction dated Monday, April 28th. The shares were bought at an average price of $24.10 per share, for a total transaction of $96,400.00. Following the acquisition, the director now directly owns 5,015 shares of the company’s stock, valued at approximately $120,861.50. This trade represents a 394.09% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.09% of the company’s stock.

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.