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

First Bancorp, Inc (ME) (NASDAQ:FNLC) issued its quarterly earnings data on Wednesday. The bank reported $0.85 earnings per share for the quarter, FiscalAI reports. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.43%. The firm had revenue of $25.82 million for the quarter.

First Bancorp, Inc (ME) Trading Up 1.5%

NASDAQ:FNLC traded up $0.52 during trading hours on Friday, hitting $34.51. The stock had a trading volume of 879 shares, compared to its average volume of 24,486. First Bancorp, Inc has a one year low of $24.08 and a one year high of $35.93. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $389.25 million, a price-to-earnings ratio of 9.97 and a beta of 0.50. The business’s 50 day moving average is $31.73 and its 200-day moving average is $29.41.

First Bancorp, Inc (ME) Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, July 7th. 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 presently 46.91%.

Insider Buying and Selling at First Bancorp, Inc (ME)

In other First Bancorp, Inc (ME) news, Director Kimberly Swan purchased 1,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were bought at an average price of $28.69 per share, with a total value of $43,035.00. Following the completion of the transaction, the director directly owned 14,470 shares in the company, valued at $415,144.30. This trade represents a 11.57% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.11% of the stock is currently owned by corporate insiders.

Institutional Trading of First Bancorp, Inc (ME)

A number of large investors have recently bought and sold shares of FNLC. Russell Investments Group Ltd. boosted 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 buying an additional 903 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of First Bancorp, Inc (ME) by 36.6% during the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after acquiring an additional 415 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of First Bancorp, Inc (ME) by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $53,000 after acquiring an additional 435 shares during the period. Tower Research Capital LLC TRC lifted its position in First Bancorp, Inc (ME) by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after acquiring an additional 2,133 shares in the last quarter. Finally, CWM LLC lifted its position in First Bancorp, Inc (ME) by 79.9% in the 4th quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,365 shares in the last quarter. 40.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, First Bancorp, Inc (ME) has an average rating of “Buy”.

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.