Deutsche Bank AG Acquires New Shares in First Bancorp, Inc (ME) $FNLC

Deutsche Bank AG purchased a new stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 841,377 shares of the bank’s stock, valued at approximately $52,704,000. Deutsche Bank AG owned 7.46% of First Bancorp, Inc (ME) as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of FNLC. Rhino Investment Partners Inc bought a new position in First Bancorp, Inc (ME) in the 1st quarter worth about $1,362,000. GSA Capital Partners LLP bought a new position in First Bancorp, Inc (ME) in the 2nd quarter worth approximately $1,837,000. Quantinno Capital Management LP increased its position in First Bancorp, Inc (ME) by 37.8% in the 1st quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank’s stock valued at $1,558,000 after acquiring an additional 15,263 shares during the period. Empowered Funds LLC raised its stake in First Bancorp, Inc (ME) by 7.0% during the 1st quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock valued at $262,000 after acquiring an additional 608 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in First Bancorp, Inc (ME) by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 47,867 shares of the bank’s stock worth $1,342,000 after acquiring an additional 2,479 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Stock Performance

Shares of NASDAQ FNLC opened at $35.04 on Friday. The stock has a fifty day moving average price of $34.21 and a two-hundred day moving average price of $30.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $395.25 million, a P/E ratio of 10.40 and a beta of 0.50. First Bancorp, Inc has a 1 year low of $24.08 and a 1 year high of $36.30.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 EPS for the quarter. The company 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 firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.3%. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 45.10%.

Insiders Place Their Bets

In other First Bancorp, Inc (ME) news, EVP Sarah Tolman sold 5,200 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total value of $183,144.00. Following the completion of the sale, the executive vice president directly owned 2,191 shares of the company’s stock, valued at approximately $77,167.02. This represents a 70.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, First Bancorp, Inc (ME) has an average rating of “Buy”.

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.