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

First Bancorp, Inc (ME) (NASDAQ:FNLC) announced its quarterly earnings data on Wednesday. The bank reported $0.85 earnings per share for the quarter, FiscalAI reports. The company had revenue of $25.82 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.09% and a net margin of 20.34%.

First Bancorp, Inc (ME) Trading Down 0.8%

Shares of First Bancorp, Inc (ME) stock opened at $33.90 on Thursday. First Bancorp, Inc has a 1 year low of $24.08 and a 1 year high of $35.93. The stock has a fifty day moving average price of $31.62 and a 200-day moving average price of $29.36. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $382.39 million, a PE ratio of 10.46 and a beta of 0.50.

First Bancorp, Inc (ME) Increases Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.5%. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. First Bancorp, Inc (ME)’s payout ratio is 46.91%.

Insider Buying and Selling

In other First Bancorp, Inc (ME) news, Director Kimberly Swan bought 1,500 shares of the stock in a transaction on Thursday, April 30th. The shares were acquired at an average price of $28.69 per share, with a total value of $43,035.00. Following the acquisition, the director directly owned 14,470 shares of the company’s stock, valued at $415,144.30. The trade was a 11.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.11% of the company’s stock.

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

Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of First Bancorp, Inc (ME) by 40.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank’s stock valued at $35,000 after acquiring an additional 383 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings 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 worth $39,000 after acquiring an additional 415 shares during the last quarter. PNC Financial Services Group Inc. grew its position in First Bancorp, Inc (ME) by 27.7% in 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 in the last quarter. Empowered Funds LLC increased its stake in First Bancorp, Inc (ME) by 7.0% in the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock valued at $262,000 after acquiring an additional 608 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in First Bancorp, Inc (ME) by 3.9% during the second quarter. Rhumbline Advisers now owns 16,666 shares of the bank’s stock worth $423,000 after purchasing an additional 632 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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, the company currently has a consensus 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.