Deutsche Bank AG Takes Position in First Bancorp, Inc (ME) $FNLC

Deutsche Bank AG acquired a new position in shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 841,377 shares of the bank’s stock, valued at approximately $52,704,000. Deutsche Bank AG owned about 0.07% of First Bancorp, Inc (ME) as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of FNLC. Bank of New York Mellon Corp acquired a new stake in shares of First Bancorp, Inc (ME) during the second quarter worth $1,719,000. State of Wyoming acquired a new position in shares of First Bancorp, Inc (ME) in the 2nd quarter valued at $175,000. GSA Capital Partners LLP acquired a new position in shares of First Bancorp, Inc (ME) in the 2nd quarter valued at $383,000. Empowered Funds LLC increased its stake in First Bancorp, Inc (ME) by 7.0% in 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 in the last quarter. Finally, Rhino Investment Partners Inc purchased a new position in First Bancorp, Inc (ME) in the 1st quarter worth about $1,362,000. 40.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related 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 completion of the sale, the executive vice president directly owned 2,191 shares of the company’s stock, valued at approximately $77,167.02. This represents a 70.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.11% of the company’s stock.

First Bancorp, Inc (ME) Trading Up 1.5%

NASDAQ FNLC opened at $35.04 on Friday. First Bancorp, Inc has a twelve month low of $24.08 and a twelve month high of $36.30. 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 stock has a market cap of $395.25 million, a price-to-earnings ratio of 10.40 and a beta of 0.50. The firm’s 50 day moving average price is $34.21 and its two-hundred day moving average price is $30.60.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share (EPS) for the quarter. The company had revenue of $25.82 million for the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.30%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, July 7th were given a dividend of $0.38 per share. 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. This represents a $1.52 annualized dividend and a yield of 4.3%. First Bancorp, Inc (ME)’s payout ratio is presently 45.10%.

First Bancorp, Inc (ME) Profile

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.