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

First Bancorp, Inc (ME) (NASDAQ:FNLC) announced its earnings results on Wednesday. The bank reported $0.95 EPS for the quarter, FiscalAI reports. The firm had revenue of $27.48 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.70% and a net margin of 22.21%.

First Bancorp, Inc (ME) Stock Performance

Shares of FNLC opened at $36.17 on Friday. The firm has a market cap of $408.00 million, a price-to-earnings ratio of 10.73 and a beta of 0.49. The business’s 50 day moving average is $34.49 and its two-hundred day moving average is $32.55. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. First Bancorp, Inc has a 52-week low of $24.39 and a 52-week high of $36.30.

First Bancorp, Inc (ME) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Tuesday, October 6th were issued a dividend of $0.38 per share. The ex-dividend date was Tuesday, October 6th. This represents a $1.52 annualized dividend and a yield of 4.2%. First Bancorp, Inc (ME)’s payout ratio is currently 45.10%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Monday, September 14th. One analyst has rated the stock with a Buy rating. According to MarketBeat, the company currently has an average rating of “Buy”.

Insider Activity at First Bancorp, Inc (ME)

In related news, EVP Sarah Tolman sold 5,200 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $35.22, for a total value of $183,144.00. Following the completion of the sale, the executive vice president directly owned 2,191 shares of the company’s stock, valued at $77,167.02. The trade was a 70.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.11% of the company’s stock.

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

A number of large investors have recently bought and sold shares of FNLC. Legal & General Group Plc acquired a new stake in First Bancorp, Inc (ME) in the second quarter worth $39,000. PNC Financial Services Group Inc. lifted its holdings in shares of First Bancorp, Inc (ME) by 54.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,168 shares of the bank’s stock valued at $89,000 after buying an additional 1,119 shares during the period. Premier Financial Group bought a new position in shares of First Bancorp, Inc (ME) during the 2nd quarter valued at about $178,000. Squarepoint Ops LLC bought a new position in shares of First Bancorp, Inc (ME) in the second quarter valued at $274,000. Finally, Hsbc Holdings PLC acquired a new stake in First Bancorp, Inc (ME) during the 2nd quarter worth about $314,000. Institutional investors own 40.41% of the company’s stock.

About First Bancorp, Inc (ME)

First Bancorp, Inc is a bank holding company headquartered in Damariscotta, Maine. Its principal subsidiary, First National Bank, is a community bank that provides banking services to individuals, families, businesses and municipalities.

First National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business loans and lines of credit, cash-management services, online and mobile banking, and investment and wealth-management services. The bank serves communities primarily in coastal Maine and portions of New Hampshire through its branch network and digital banking channels.

First National Bank traces its roots to 1852, while First Bancorp was established as the bank’s holding company in 1988.