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

First Bancorp, Inc (ME) (NASDAQ:FNLC) posted its quarterly earnings results on Wednesday. The bank reported $0.80 EPS for the quarter, FiscalAI reports. First Bancorp, Inc (ME) had a return on equity of 12.70% and a net margin of 19.36%.The company had revenue of $45.83 million during the quarter.

First Bancorp, Inc (ME) Trading Down 0.3%

NASDAQ:FNLC opened at $28.60 on Thursday. First Bancorp, Inc has a 1 year low of $23.36 and a 1 year high of $30.33. The stock has a market cap of $322.32 million, a price-to-earnings ratio of 9.32 and a beta of 0.52. The business has a fifty day moving average of $28.32 and a 200-day moving average of $27.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

First Bancorp, Inc (ME) Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Tuesday, April 7th were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.48 annualized dividend and a yield of 5.2%. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 48.21%.

Analyst Ratings Changes

Separately, Weiss Ratings raised First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. TrueMark Investments LLC bought a new position in First Bancorp, Inc (ME) during the third quarter valued at about $575,000. CWM LLC boosted its stake in First Bancorp, Inc (ME) by 226.6% during the third quarter. CWM LLC now owns 1,708 shares of the bank’s stock valued at $45,000 after buying an additional 1,185 shares in the last quarter. First Bancorp Inc ME boosted its stake in First Bancorp, Inc (ME) by 1.6% during the third quarter. First Bancorp Inc ME now owns 748,982 shares of the bank’s stock valued at $19,668,000 after buying an additional 11,477 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in First Bancorp, Inc (ME) during the second quarter valued at about $213,000. Finally, Strs Ohio bought a new position in First Bancorp, Inc (ME) during the first quarter valued at about $96,000. Institutional investors own 40.41% of the company’s stock.

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.