Quantinno Capital Management LP Increases Holdings in First Bancorp, Inc (ME) $FNLC

Quantinno Capital Management LP boosted its stake in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) by 37.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,599 shares of the bank’s stock after buying an additional 15,263 shares during the period. Quantinno Capital Management LP owned 0.49% of First Bancorp, Inc (ME) worth $1,558,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FNLC. Russell Investments Group Ltd. increased its stake in shares of First Bancorp, Inc (ME) by 2,655.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after acquiring an additional 903 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of 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 valued at $39,000 after acquiring an additional 415 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of First Bancorp, Inc (ME) by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after purchasing an additional 435 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of First Bancorp, Inc (ME) by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,133 shares during the period. Finally, CWM LLC increased its position in First Bancorp, Inc (ME) by 79.9% during the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock worth $81,000 after purchasing an additional 1,365 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp, Inc (ME) Price Performance

FNLC stock opened at $35.65 on Thursday. First Bancorp, Inc has a 52-week low of $24.08 and a 52-week high of $36.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.33. The stock has a market cap of $402.13 million, a price-to-earnings ratio of 10.58 and a beta of 0.50. The business has a fifty day moving average of $33.58 and a two-hundred day moving average of $30.24.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 EPS 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 announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, July 7th. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.3%. First Bancorp, Inc (ME)’s dividend payout ratio is currently 45.10%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Insider Buying and Selling

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 shares were sold at an average price of $35.22, for a total transaction of $183,144.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.11% of the stock is owned by insiders.

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.