Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in First Bancorp, Inc (ME) $FNLC

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in First Bancorp, Inc (ME) (NASDAQ:FNLC) in the second quarter, Holdings Channel.com reports. The firm acquired 39,800 shares of the bank’s stock, valued at approximately $2,493,000.

Several other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of First Bancorp, Inc (ME) by 2,655.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after buying an additional 903 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in First Bancorp, Inc (ME) by 36.6% in the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after buying an additional 415 shares in the last quarter. Legal & General Group Plc bought a new position in First Bancorp, Inc (ME) during the second quarter valued at approximately $39,000. PNC Financial Services Group Inc. grew its position in First Bancorp, Inc (ME) by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after acquiring an additional 435 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in First Bancorp, Inc (ME) by 540.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after acquiring an additional 2,133 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors.

First Bancorp, Inc (ME) Stock Performance

NASDAQ FNLC opened at $34.76 on Friday. The company has a 50-day simple moving average of $34.73 and a two-hundred day simple moving average of $30.82. First Bancorp, Inc has a 12-month low of $24.08 and a 12-month high of $36.30. The firm has a market cap of $392.09 million, a price-to-earnings ratio of 10.31 and a beta of 0.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12.

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

First Bancorp, Inc (ME) Increases Dividend

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

Insider Buying and Selling

In other First Bancorp, Inc (ME) news, EVP Sarah Tolman sold 5,200 shares of First Bancorp, Inc (ME) stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $35.22, for a total value of $183,144.00. Following the transaction, the executive vice president directly owned 2,191 shares of the company’s stock, valued at $77,167.02. The trade was a 70.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

About First Bancorp, Inc (ME)

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.