American Century Companies Inc. Increases Stake in First Bancorp, Inc (ME) $FNLC

Key Points

• American Century Companies Inc. has increased its holdings in First Bancorp, Inc (ME) by 51.3% in Q1, now owning 34,190 shares valued at $845,000.
• Multiple hedge funds have significantly boosted their stakes in First Bancorp, Inc (ME), with GAMMA Investing LLC leading with a 13,325.5% increase during the same period.
• The company recently raised its quarterly dividend from $0.36 to $0.37, yielding an annualized dividend of $1.48 with a payout ratio of 55.22%.

American Century Companies Inc. increased its position in First Bancorp, Inc (ME) (NASDAQ:FNLC - Free Report) by 51.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,190 shares of the bank's stock after acquiring an additional 11,599 shares during the quarter. American Century Companies Inc. owned about 0.31% of First Bancorp, Inc (ME) worth $845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNLC. GAMMA Investing LLC increased its holdings in First Bancorp, Inc (ME) by 13,325.5% in the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank's stock worth $169,000 after acquiring an additional 6,796 shares in the last quarter. Wells Fargo & Company MN increased its holdings in First Bancorp, Inc (ME) by 22.0% in the 4th quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank's stock worth $208,000 after acquiring an additional 1,369 shares in the last quarter. Bar Harbor Wealth Management increased its holdings in First Bancorp, Inc (ME) by 4.7% in the 1st quarter. Bar Harbor Wealth Management now owns 10,970 shares of the bank's stock worth $271,000 after acquiring an additional 488 shares in the last quarter. Deutsche Bank AG increased its holdings in First Bancorp, Inc (ME) by 73.5% in the 4th quarter. Deutsche Bank AG now owns 10,557 shares of the bank's stock worth $289,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in First Bancorp, Inc (ME) by 29.5% in the 4th quarter. Bank of America Corp DE now owns 14,935 shares of the bank's stock worth $408,000 after acquiring an additional 3,401 shares in the last quarter. 40.41% of the stock is owned by hedge funds and other institutional investors.

First Bancorp, Inc (ME) Price Performance

FNLC traded down $0.28 during trading on Tuesday, reaching $26.96. 5,877 shares of the company traded hands, compared to its average volume of 20,853. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 0.86. First Bancorp, Inc has a 12-month low of $22.11 and a 12-month high of $31.05. The firm has a fifty day simple moving average of $26.24 and a 200 day simple moving average of $25.08. The company has a market cap of $302.22 million, a P/E ratio of 10.06 and a beta of 0.56.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a net margin of 17.39% and a return on equity of 11.60%. The business had revenue of $22.54 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.37 per share. This is an increase from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a yield of 5.5%. First Bancorp, Inc (ME)'s payout ratio is 55.22%.

First Bancorp, Inc (ME) 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.