First Bancorp, Inc (ME) $FNLC Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) by 37.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 55,599 shares of the bank’s stock after buying an additional 15,263 shares during the period. Quantinno Capital Management LP’s holdings in First Bancorp, Inc (ME) were worth $1,558,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FNLC. Russell Investments Group Ltd. grew its stake in shares of First Bancorp, Inc (ME) by 2,655.9% in the third 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 lifted its stake in First Bancorp, Inc (ME) by 36.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after acquiring an additional 415 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in First Bancorp, Inc (ME) by 27.7% during the 3rd 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 period. Tower Research Capital LLC TRC boosted its holdings in First Bancorp, Inc (ME) by 540.0% during the 2nd 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 period. Finally, CWM LLC grew its position in First Bancorp, Inc (ME) by 79.9% in the 4th quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,365 shares in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

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

First Bancorp, Inc (ME) Stock Performance

Shares of FNLC stock opened at $35.65 on Thursday. The firm has a 50 day moving average of $33.58 and a two-hundred day moving average of $30.24. The stock has a market capitalization of $402.13 million, a PE ratio of 10.58 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. First Bancorp, Inc has a 52 week low of $24.08 and a 52 week 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 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 13.43% 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 issued a dividend of $0.38 per share. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 7th. This represents a $1.52 annualized dividend and a yield of 4.3%. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 45.10%.

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.