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

Foundry Partners LLC raised its holdings in The First Bancorp, Inc. (NASDAQ:FNLC) by 14.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,170 shares of the bank’s stock after purchasing an additional 9,245 shares during the period. Foundry Partners LLC’s holdings in First Bancorp were worth $1,873,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. WASHINGTON TRUST Co purchased a new position in First Bancorp during the second quarter valued at approximately $25,000. Rise Advisors LLC purchased a new position in First Bancorp during the 3rd quarter valued at about $37,000. SG Americas Securities LLC purchased a new stake in First Bancorp during the third quarter worth approximately $104,000. BNP Paribas Financial Markets grew its holdings in First Bancorp by 89.7% during the first quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock worth $121,000 after acquiring an additional 2,319 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of First Bancorp in the first quarter valued at $214,000. 40.41% of the stock is currently owned by institutional investors.

First Bancorp Trading Up 2.0 %

NASDAQ:FNLC opened at $28.60 on Friday. The First Bancorp, Inc. has a 52 week low of $21.77 and a 52 week high of $31.05. 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 company has a market cap of $318.89 million, a PE ratio of 11.84 and a beta of 0.56. The business’s 50 day moving average is $26.92 and its two-hundred day moving average is $25.67.

First Bancorp Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.44 annualized dividend and a dividend yield of 5.03%. First Bancorp’s dividend payout ratio is presently 60.76%.

First Bancorp 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.