Kimelman & Baird LLC Makes New Investment in The First Bancorp, Inc. (NASDAQ:FNLC)

Kimelman & Baird LLC bought a new stake in The First Bancorp, Inc. (NASDAQ:FNLC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,125 shares of the bank’s stock, valued at approximately $848,000. Kimelman & Baird LLC owned about 0.31% of First Bancorp at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. WASHINGTON TRUST Co bought a new position in First Bancorp in the second quarter valued at approximately $25,000. BNP Paribas Financial Markets grew its stake in shares of First Bancorp by 89.7% during the first quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock worth $121,000 after purchasing an additional 2,319 shares during the period. Quadrature Capital Ltd bought a new stake in First Bancorp in the first quarter valued at about $214,000. Bright Financial Advisors Inc. acquired a new position in First Bancorp in the first quarter valued at about $241,000. Finally, Rhumbline Advisers boosted its holdings in First Bancorp by 7.7% during the second quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock worth $398,000 after buying an additional 1,142 shares during the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Stock Performance

Shares of FNLC stock opened at $26.12 on Monday. The stock has a market cap of $290.87 million, a PE ratio of 10.53 and a beta of 0.56. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $24.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.84. The First Bancorp, Inc. has a one year low of $21.77 and a one year high of $29.75.

First Bancorp (NASDAQ:FNLC) last posted its earnings results on Wednesday, July 24th. The bank reported $0.55 earnings per share for the quarter. The company had revenue of $19.23 million for the quarter. First Bancorp had a net margin of 16.95% and a return on equity of 11.01%.

First Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Tuesday, October 8th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $1.44 annualized dividend and a yield of 5.51%. First Bancorp’s dividend payout ratio is presently 58.06%.

First Bancorp Profile

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.