Foundry Partners LLC Has $1.87 Million Holdings in The First Bancorp, Inc. (NASDAQ:FNLC)

Foundry Partners LLC raised its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 14.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,170 shares of the bank’s stock after buying an additional 9,245 shares during the quarter. Foundry Partners LLC owned about 0.64% of First Bancorp worth $1,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FNLC. WASHINGTON TRUST Co purchased a new position in First Bancorp during the 2nd quarter valued at $25,000. Rise Advisors LLC purchased a new position in shares of First Bancorp during the third quarter worth about $37,000. SG Americas Securities LLC acquired a new position in shares of First Bancorp during the 3rd quarter worth approximately $104,000. BNP Paribas Financial Markets grew its stake in shares of First Bancorp by 89.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after buying an additional 2,319 shares during the period. Finally, Means Investment CO. Inc. acquired a new stake in shares of First Bancorp in the 3rd quarter valued at about $226,000. Institutional investors own 40.41% of the company’s stock.

First Bancorp Trading Up 2.0 %

NASDAQ FNLC opened at $28.60 on Friday. The stock has a market cap of $318.89 million, a price-to-earnings ratio of 11.84 and a beta of 0.56. The First Bancorp, Inc. has a twelve month low of $21.77 and a twelve month high of $31.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $26.92 and its two-hundred day moving average price is $25.67.

First Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Tuesday, October 8th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Tuesday, October 8th. First Bancorp’s dividend payout ratio is 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.