Geode Capital Management LLC Grows Stock Position in The First Bancorp, Inc. (NASDAQ:FNLC)

Geode Capital Management LLC lifted its holdings in The First Bancorp, Inc. (NASDAQ:FNLC) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 225,659 shares of the bank’s stock after purchasing an additional 1,599 shares during the period. Geode Capital Management LLC owned about 2.02% of First Bancorp worth $5,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in First Bancorp in the third quarter worth about $37,000. SG Americas Securities LLC purchased a new stake in First Bancorp in the 3rd quarter worth approximately $104,000. Means Investment CO. Inc. bought a new stake in First Bancorp during the 3rd quarter worth approximately $226,000. Rhumbline Advisers raised its stake in First Bancorp by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock worth $398,000 after acquiring an additional 1,142 shares during the period. Finally, Barclays PLC lifted its holdings in First Bancorp by 80.1% during the third quarter. Barclays PLC now owns 23,135 shares of the bank’s stock valued at $608,000 after purchasing an additional 10,288 shares in the last quarter. Hedge funds and other institutional investors own 40.41% of the company’s stock.

First Bancorp Stock Performance

Shares of NASDAQ FNLC opened at $27.11 on Friday. The stock has a market cap of $302.33 million, a PE ratio of 11.44 and a beta of 0.58. The First Bancorp, Inc. has a 1 year low of $21.77 and a 1 year high of $31.05. The firm has a fifty day moving average price of $27.98 and a 200-day moving average price of $26.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.85 and a quick ratio of 0.85.

First Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Monday, January 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, January 6th. This represents a $1.44 dividend on an annualized basis and a yield of 5.31%. First Bancorp’s dividend payout ratio is presently 60.76%.

First Bancorp Company 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.