Fmr LLC Decreases Stake in The First Bancorp, Inc. (NASDAQ:FNLC)

FMR LLC lessened its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC - Free Report) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,523 shares of the bank's stock after selling 27,211 shares during the quarter. FMR LLC owned approximately 1.77% of First Bancorp worth $5,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FNLC. First Bancorp Inc ME raised its holdings in First Bancorp by 0.8% in the 2nd quarter. First Bancorp Inc ME now owns 732,959 shares of the bank's stock valued at $18,214,000 after acquiring an additional 5,755 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of First Bancorp by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 49,663 shares of the bank's stock valued at $1,234,000 after purchasing an additional 4,477 shares during the period. Rhumbline Advisers increased its stake in First Bancorp by 7.7% in the second quarter. Rhumbline Advisers now owns 16,029 shares of the bank's stock valued at $398,000 after purchasing an additional 1,142 shares during the last quarter. Foundry Partners LLC lifted its position in First Bancorp by 17.3% during the second quarter. Foundry Partners LLC now owns 61,925 shares of the bank's stock worth $1,539,000 after buying an additional 9,140 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in First Bancorp in the 2nd quarter worth about $848,000. Institutional investors and hedge funds own 40.41% of the company's stock.

First Bancorp Trading Down 0.5 %

FNLC traded down $0.14 during midday trading on Friday, hitting $28.16. The company's stock had a trading volume of 10,266 shares, compared to its average volume of 16,209. The firm has a market cap of $313.98 million, a P/E ratio of 11.88 and a beta of 0.58. The First Bancorp, Inc. has a 52-week low of $21.77 and a 52-week high of $31.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $27.67 and a two-hundred day moving average price of $26.20.

First Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Tuesday, October 8th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Tuesday, October 8th. First Bancorp's dividend payout ratio is currently 60.76%.

About First Bancorp

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.