State Street Corp Grows Stock Holdings in The First Bancorp, Inc. (NASDAQ:FNLC)

State Street Corp grew its stake in The First Bancorp, Inc. (NASDAQ:FNLC) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,144 shares of the bank’s stock after purchasing an additional 2,156 shares during the period. State Street Corp’s holdings in First Bancorp were worth $5,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in First Bancorp by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,663 shares of the bank’s stock valued at $1,234,000 after buying an additional 4,477 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of 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 period. Foundry Partners LLC increased 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 purchasing an additional 9,140 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of First Bancorp during the 2nd quarter worth approximately $848,000. Finally, SG Americas Securities LLC purchased a new stake in First Bancorp in the third quarter valued at $104,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Stock Performance

NASDAQ FNLC opened at $27.07 on Friday. The First Bancorp, Inc. has a twelve month low of $21.77 and a twelve month high of $31.05. The stock has a market cap of $301.88 million, a PE ratio of 11.42 and a beta of 0.58. The stock has a fifty day simple moving average of $27.89 and a 200-day simple moving average of $26.51. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37.

First Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, January 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend is Monday, January 6th. First Bancorp’s 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.