Bank of New York Mellon Corp Has $1 Million Holdings in The First Bancorp, Inc. (NASDAQ:FNLC)

Bank of New York Mellon Corp decreased its position in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,621 shares of the bank’s stock after selling 6,422 shares during the quarter. Bank of New York Mellon Corp owned about 0.33% of First Bancorp worth $1,002,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of First Bancorp by 11.6% during the fourth quarter. SG Americas Securities LLC now owns 4,421 shares of the bank’s stock worth $121,000 after buying an additional 458 shares during the period. Bath Savings Trust Co bought a new stake in shares of First Bancorp during the 4th quarter valued at about $245,000. SeaBridge Investment Advisors LLC bought a new stake in First Bancorp in the fourth quarter worth approximately $341,000. Rhumbline Advisers lifted its stake in First Bancorp by 12.1% in the fourth quarter. Rhumbline Advisers now owns 17,003 shares of the bank’s stock valued at $465,000 after buying an additional 1,831 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of First Bancorp by 285.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,354 shares of the bank’s stock worth $588,000 after buying an additional 16,551 shares in the last quarter. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Stock Performance

NASDAQ:FNLC opened at $25.15 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The First Bancorp, Inc. has a twelve month low of $21.77 and a twelve month high of $31.05. The company has a fifty day moving average of $25.60 and a 200-day moving average of $26.62. The firm has a market capitalization of $281.58 million, a P/E ratio of 10.39 and a beta of 0.53.

First Bancorp (NASDAQ:FNLC) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.65 earnings per share for the quarter. First Bancorp had a net margin of 16.37% and a return on equity of 10.90%.

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.