Sarah Tolman Sells 5,200 Shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock

First Bancorp, Inc (ME) (NASDAQ:FNLC) EVP Sarah Tolman sold 5,200 shares of the company’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Bancorp, Inc (ME) Stock Down 1.7%

Shares of FNLC stock opened at $34.94 on Friday. First Bancorp, Inc has a 1 year low of $24.08 and a 1 year high of $35.93. The stock has a market cap of $393.98 million, a PE ratio of 10.37 and a beta of 0.50. The business’s fifty day moving average is $32.41 and its 200-day moving average is $29.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.43% and a net margin of 21.43%.The business had revenue of $25.82 million during the quarter.

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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend 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 currently 45.10%.

Institutional Investors Weigh In On First Bancorp, Inc (ME)

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of First Bancorp, Inc (ME) by 40.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank’s stock valued at $35,000 after purchasing an additional 383 shares during the period. BNP Paribas Financial Markets raised its holdings 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 buying an additional 415 shares during the period. PNC Financial Services Group Inc. raised 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 worth $53,000 after buying an additional 435 shares during the period. Empowered Funds LLC lifted its stake in First Bancorp, Inc (ME) by 7.0% during the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock valued at $262,000 after buying an additional 608 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in First Bancorp, Inc (ME) by 3.9% during the second quarter. Rhumbline Advisers now owns 16,666 shares of the bank’s stock valued at $423,000 after buying an additional 632 shares in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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