Shares of First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.82 and traded as high as $34.98. First Bancorp, Inc (ME) shares last traded at $33.86, with a volume of 27,638 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, First Bancorp, Inc (ME) currently has a consensus rating of “Buy”.
Check Out Our Latest Report on FNLC
First Bancorp, Inc (ME) Trading Up 0.9%
First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $25.87 million for the quarter. First Bancorp, Inc (ME) had a net margin of 20.34% and a return on equity of 13.09%.
First Bancorp, Inc (ME) Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.5%. First Bancorp, Inc (ME)’s payout ratio is currently 46.91%.
Insider Buying and Selling
In other news, Director Kimberly Swan acquired 1,500 shares of the firm’s stock in a transaction on Thursday, April 30th. The shares were bought at an average price of $28.69 per share, for a total transaction of $43,035.00. Following the acquisition, the director owned 14,470 shares of the company’s stock, valued at approximately $415,144.30. This trade represents a 11.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.11% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in shares of First Bancorp, Inc (ME) by 2,655.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after acquiring an additional 903 shares during the period. BNP Paribas Financial Markets boosted its holdings in First Bancorp, Inc (ME) by 36.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after acquiring an additional 415 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of First Bancorp, Inc (ME) by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after purchasing an additional 435 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of First Bancorp, Inc (ME) by 540.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after acquiring an additional 2,133 shares during the period. Finally, CWM LLC increased its holdings in First Bancorp, Inc (ME) by 79.9% during the 4th quarter. CWM LLC now owns 3,073 shares of the bank’s stock worth $81,000 after purchasing an additional 1,365 shares during the period. 40.41% of the stock is owned by hedge funds and other institutional investors.
About First Bancorp, Inc (ME)
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.
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