First Bancorp, Inc (ME) $FNLC Stock: Kimelman & Baird LLC Trims Position

Kimelman & Baird LLC lessened its holdings in First Bancorp, Inc (ME) (NASDAQ:FNLC) by 43.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the bank’s stock after selling 15,625 shares during the period. Kimelman & Baird LLC’s holdings in First Bancorp, Inc (ME) were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of FNLC. Empowered Funds LLC increased its position in shares of First Bancorp, Inc (ME) by 7.0% during the 1st quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock worth $262,000 after purchasing an additional 608 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in First Bancorp, Inc (ME) by 54.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,168 shares of the bank’s stock valued at $89,000 after buying an additional 1,119 shares during the period. Legal & General Group Plc acquired a new position in First Bancorp, Inc (ME) in the second quarter valued at about $39,000. Bank of New York Mellon Corp lifted its position in First Bancorp, Inc (ME) by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 47,867 shares of the bank’s stock valued at $1,342,000 after buying an additional 2,479 shares during the last quarter. Finally, Premier Financial Group acquired a new position in First Bancorp, Inc (ME) in the second quarter valued at about $178,000. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp, Inc (ME) Stock Down 0.5%

First Bancorp, Inc (ME) stock opened at $36.41 on Friday. First Bancorp, Inc has a fifty-two week low of $24.63 and a fifty-two week high of $37.61. 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 50 day moving average price of $34.84 and a 200 day moving average price of $31.62. The company has a market capitalization of $410.70 million, a PE ratio of 10.37 and a beta of 0.48.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its earnings results on Wednesday, October 21st. The bank reported $0.95 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.70% and a net margin of 22.21%. The company had revenue of $27.48 million for the quarter.

First Bancorp, Inc (ME) Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, October 6th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.2%. First Bancorp, Inc (ME)’s payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of First Bancorp, Inc (ME) from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy”.

First Bancorp, Inc (ME) Company Profile

First Bancorp, Inc is a bank holding company headquartered in Damariscotta, Maine. Its principal subsidiary, First National Bank, is a community bank that provides banking services to individuals, families, businesses and municipalities.

First National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans and lines of credit, cash-management services, online and mobile banking, and investment and wealth-management services. The bank serves communities primarily in coastal Maine and portions of New Hampshire through its branch network and digital banking channels.

First National Bank traces its roots to 1852, while First Bancorp was established as the bank’s holding company in 1988.