Bank of New York Mellon Corp reduced its position in First Bancorp Inc (NASDAQ:FNLC) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,134 shares of the bank’s stock after selling 1,595 shares during the period. Bank of New York Mellon Corp owned approximately 0.79% of First Bancorp worth $1,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System acquired a new position in shares of First Bancorp in the 2nd quarter valued at about $256,000. Strs Ohio lifted its stake in shares of First Bancorp by 9.1% in the 2nd quarter. Strs Ohio now owns 19,100 shares of the bank’s stock valued at $414,000 after purchasing an additional 1,600 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Bancorp during the 2nd quarter valued at about $119,000. Bath Savings Trust Co purchased a new stake in shares of First Bancorp during the 2nd quarter valued at about $361,000. Finally, Wells Fargo & Company MN raised its holdings in shares of First Bancorp by 21.4% during the 1st quarter. Wells Fargo & Company MN now owns 22,077 shares of the bank’s stock valued at $486,000 after buying an additional 3,897 shares during the period. 33.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:FNLC opened at $19.54 on Monday. The company has a market cap of $213.77 million, a P/E ratio of 8.18 and a beta of 0.70. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.76 and a current ratio of 0.76. First Bancorp Inc has a one year low of $17.62 and a one year high of $30.64. The business’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $20.83.

First Bancorp (NASDAQ:FNLC) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.60 EPS for the quarter. First Bancorp had a return on equity of 12.21% and a net margin of 27.32%. The business had revenue of $19.09 million for the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, October 6th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.24 dividend on an annualized basis and a yield of 6.35%.

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 individual and corporate customers. The company offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts.

Read More: Percentage Gainers

Institutional Ownership by Quarter for First Bancorp (NASDAQ:FNLC)

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