Quartz Partners LLC Acquires New Position in First Bancorp, Inc (ME) $FNLC

Quartz Partners LLC acquired a new stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,542 shares of the bank’s stock, valued at approximately $1,725,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of First Bancorp, Inc (ME) in the second quarter worth about $379,456,000. Deutsche Bank AG purchased a new stake in shares of First Bancorp, Inc (ME) during the 2nd quarter valued at approximately $52,704,000. Bank of New York Mellon Corp purchased a new stake in shares of First Bancorp, Inc (ME) during the 2nd quarter valued at approximately $15,565,000. Focus Partners Wealth bought a new position in First Bancorp, Inc (ME) in the 1st quarter worth approximately $1,500,000. Finally, Rhino Investment Partners Inc bought a new position in First Bancorp, Inc (ME) in the 1st quarter worth approximately $1,362,000. Institutional investors own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Stock Down 3.0%

Shares of NASDAQ:FNLC opened at $34.53 on Thursday. First Bancorp, Inc has a one year low of $24.08 and a one year high of $36.30. The firm has a fifty day moving average price of $34.12 and a two-hundred day moving average price of $30.54. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $389.50 million, a price-to-earnings ratio of 10.25 and a beta of 0.50.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. The business had revenue of $25.82 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.30% and a net margin of 21.43%.

First Bancorp, Inc (ME) Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.4%. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. First Bancorp, Inc (ME)’s dividend payout ratio is presently 45.10%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Insider Buying and Selling

In other First Bancorp, Inc (ME) news, EVP Sarah Tolman sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $35.22, for a total transaction of $183,144.00. Following the sale, the executive vice president owned 2,191 shares in the company, valued at $77,167.02. This trade represents a 70.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.11% of the stock is currently owned by corporate insiders.

First Bancorp, Inc (ME) Profile

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.