First Bancorp, Inc (ME) (NASDAQ:FNLC – Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.85 earnings per share (EPS) for the quarter, FiscalAI reports. First Bancorp, Inc (ME) had a return on equity of 13.09% and a net margin of 20.34%.The firm had revenue of $25.82 million for the quarter.
First Bancorp, Inc (ME) Trading Down 1.1%
Shares of NASDAQ FNLC traded down $0.37 during midday trading on Wednesday, reaching $33.81. 35,541 shares of the stock were exchanged, compared to its average volume of 24,597. The stock has a 50 day moving average price of $31.50 and a 200-day moving average price of $29.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $381.24 million, a P/E ratio of 10.44 and a beta of 0.50. First Bancorp, Inc has a 52-week low of $24.08 and a 52-week high of $35.93.
First Bancorp, Inc (ME) Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.5%. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. First Bancorp, Inc (ME)’s dividend payout ratio is 46.91%.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on FNLC
Insider Buying and Selling at First Bancorp, Inc (ME)
In related news, Director Kimberly Swan acquired 1,500 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of $28.69 per share, for a total transaction of $43,035.00. Following the acquisition, the director directly owned 14,470 shares in the company, valued at approximately $415,144.30. The trade was a 11.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.11% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of FNLC. Russell Investments Group Ltd. grew its stake 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 buying an additional 903 shares in the last quarter. BNP Paribas Financial Markets increased its stake 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 worth $39,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 acquiring an additional 435 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in 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 valued at $64,000 after buying an additional 2,133 shares in the last quarter. Finally, CWM LLC raised its stake in First Bancorp, Inc (ME) by 79.9% during the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after buying an additional 1,365 shares in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.
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.
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