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

First Bancorp, Inc (ME) (NASDAQ:FNLC) issued its quarterly 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%.

First Bancorp, Inc (ME) Stock Up 3.8%

NASDAQ FNLC traded up $1.01 on Wednesday, hitting $27.64. 23,537 shares of the stock were exchanged, compared to its average volume of 22,387. First Bancorp, Inc has a fifty-two week low of $22.11 and a fifty-two week high of $28.60. The company has a 50-day moving average price of $26.47 and a 200-day moving average price of $26.13. 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 company has a market cap of $310.12 million, a PE ratio of 9.84 and a beta of 0.59.

First Bancorp, Inc (ME) Announces Dividend

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

Hedge Funds Weigh In On First Bancorp, Inc (ME)

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in 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 holdings in shares of First Bancorp, Inc (ME) by 36.6% in 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 last quarter. PNC Financial Services Group Inc. raised its position 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 acquiring an additional 435 shares in the last quarter. Tower Research Capital LLC TRC lifted 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 worth $64,000 after purchasing an additional 2,133 shares during the last quarter. Finally, Strs Ohio acquired a new position in First Bancorp, Inc (ME) in the first quarter valued at approximately $96,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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