Martingale Asset Management L P Takes $230,000 Position in First Bancorp, Inc (ME) $FNLC

Key Points

• Martingale Asset Management L P acquired a new stake in First Bancorp, Inc (ME), buying 9,317 shares valued at approximately $230,000 during the first quarter of the year.
• The company has recently increased its quarterly dividend to $0.37, up from the previous $0.36, reflecting a 5.4% dividend yield.
• First Bancorp, Inc reported earnings of $0.72 per share for the last quarter, with a net margin of 17.39% and a return on equity of 11.60%.

Martingale Asset Management L P bought a new stake in First Bancorp, Inc (ME) (NASDAQ:FNLC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,317 shares of the bank's stock, valued at approximately $230,000. Martingale Asset Management L P owned approximately 0.08% of First Bancorp, Inc (ME) as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Naples Global Advisors LLC lifted its holdings in shares of First Bancorp, Inc (ME) by 2.8% in the first quarter. Naples Global Advisors LLC now owns 17,817 shares of the bank's stock valued at $440,000 after purchasing an additional 485 shares in the last quarter. Bar Harbor Wealth Management lifted its holdings in shares of First Bancorp, Inc (ME) by 4.7% in the first quarter. Bar Harbor Wealth Management now owns 10,970 shares of the bank's stock valued at $271,000 after purchasing an additional 488 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Bancorp, Inc (ME) by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 29,569 shares of the bank's stock valued at $731,000 after purchasing an additional 687 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Bancorp, Inc (ME) by 22.0% in the fourth quarter. Wells Fargo & Company MN now owns 7,604 shares of the bank's stock valued at $208,000 after purchasing an additional 1,369 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First Bancorp, Inc (ME) by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 473,481 shares of the bank's stock valued at $12,949,000 after purchasing an additional 1,525 shares in the last quarter. Institutional investors own 40.41% of the company's stock.

First Bancorp, Inc (ME) Stock Up 0.6%

FNLC stock opened at $27.20 on Wednesday. The firm has a market capitalization of $304.91 million, a PE ratio of 10.15 and a beta of 0.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average is $25.76 and its 200-day moving average is $25.01. First Bancorp, Inc has a twelve month low of $22.11 and a twelve month high of $31.05.

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

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th were issued a $0.37 dividend. This is a boost from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, July 8th. First Bancorp, Inc (ME)'s dividend payout ratio is currently 55.22%.

First Bancorp, Inc (ME) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.