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

First Bancorp, Inc (ME) (NASDAQ:FNLC) posted its earnings results on Wednesday. The bank reported $0.91 earnings per share (EPS) for the quarter, Zacks reports. First Bancorp, Inc (ME) had a net margin of 17.94% and a return on equity of 11.98%. The company had revenue of $21.81 million during the quarter.

First Bancorp, Inc (ME) Price Performance

Shares of First Bancorp, Inc (ME) stock opened at $27.64 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $310.12 million, a price-to-earnings ratio of 9.84 and a beta of 0.59. First Bancorp, Inc has a twelve month low of $22.11 and a twelve month high of $28.60. The company has a 50-day simple moving average of $26.51 and a two-hundred day simple moving average of $26.14.

First Bancorp, Inc (ME) Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors 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 yield of 5.4%. The ex-dividend date of this dividend was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 52.67%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On First Bancorp, Inc (ME)

A number of hedge funds and other institutional investors have recently made changes to their positions in FNLC. Russell Investments Group Ltd. grew its position in First Bancorp, Inc (ME) by 2,655.9% during the third quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after buying an additional 903 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of 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% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $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% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after purchasing an additional 2,133 shares during the period. Finally, Strs Ohio acquired a new position in First Bancorp, Inc (ME) in the first quarter valued at about $96,000. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.