First Bancorp, Inc (ME) (NASDAQ:FNLC) Posts Quarterly Earnings Results

First Bancorp, Inc (ME) (NASDAQ:FNLC) issued its earnings results on Wednesday. The bank reported $0.91 earnings per share for the quarter, Zacks reports. First Bancorp, Inc (ME) had a net margin of 17.94% and a return on equity of 11.98%.

First Bancorp, Inc (ME) Price Performance

Shares of FNLC stock traded up $1.01 during midday trading on Wednesday, reaching $27.64. 23,537 shares of the company traded hands, compared to its average volume of 22,387. The firm’s 50 day simple moving average is $26.47 and its two-hundred day simple moving average is $26.13. The firm has a market cap of $310.12 million, a PE ratio of 9.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.87. First Bancorp, Inc has a 1-year low of $22.11 and a 1-year high of $28.60.

First Bancorp, Inc (ME) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, January 6th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 52.67%.

Institutional Trading of First Bancorp, Inc (ME)

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of First Bancorp, Inc (ME) by 36.6% in the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after buying an additional 415 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in First Bancorp, Inc (ME) by 27.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after acquiring an additional 435 shares in the last quarter. Rhumbline Advisers increased its holdings in First Bancorp, Inc (ME) by 3.9% during the 2nd quarter. Rhumbline Advisers now owns 16,666 shares of the bank’s stock valued at $423,000 after acquiring an additional 632 shares in the last quarter. Bridgeway Capital Management LLC raised its position in First Bancorp, Inc (ME) by 8.6% during the third quarter. Bridgeway Capital Management LLC now owns 9,104 shares of the bank’s stock worth $239,000 after acquiring an additional 723 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of First Bancorp, Inc (ME) by 2,655.9% in the third quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after purchasing an additional 903 shares in the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Bancorp, Inc (ME) in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, First Bancorp, Inc (ME) has a consensus rating of “Hold”.

First Bancorp, Inc (ME) Company Profile

First Bancorp, Inc (NASDAQ: FNLC) is a Maine-based bank holding company headquartered in Dover-Foxcroft. Through its principal subsidiary, The First National Bank of Dover-Foxcroft, the company provides a full suite of community banking services to individuals, small businesses and nonprofit organizations. Its core deposit offerings include checking, savings, money market and certificate of deposit accounts, complemented by online and mobile banking platforms.

On the lending side, First Bancorp’s product portfolio spans consumer and residential mortgage loans as well as commercial and agricultural lending.