Geode Capital Management LLC Buys 1,599 Shares of The First Bancorp, Inc. (NASDAQ:FNLC)

Geode Capital Management LLC increased its stake in shares of The First Bancorp, Inc. (NASDAQ:FNLC) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 225,659 shares of the bank’s stock after purchasing an additional 1,599 shares during the period. Geode Capital Management LLC’s holdings in First Bancorp were worth $5,940,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in First Bancorp during the 3rd quarter valued at approximately $37,000. SG Americas Securities LLC purchased a new position in shares of First Bancorp in the third quarter valued at $104,000. Means Investment CO. Inc. bought a new stake in First Bancorp in the third quarter worth $226,000. Rhumbline Advisers raised its stake in First Bancorp by 7.7% during the second quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock valued at $398,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Barclays PLC lifted its position 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 during the last quarter. 40.41% of the stock is owned by hedge funds and other institutional investors.

First Bancorp Stock Up 1.8 %

Shares of NASDAQ FNLC opened at $27.11 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.37. The First Bancorp, Inc. has a 12-month low of $21.77 and a 12-month high of $31.05. The firm’s 50-day moving average price is $27.98 and its 200-day moving average price is $26.62. The stock has a market capitalization of $302.33 million, a price-to-earnings ratio of 11.44 and a beta of 0.58.

First Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, January 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.31%. The ex-dividend date is Monday, January 6th. First Bancorp’s payout ratio is 60.76%.

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.