First Bancorp, Inc (ME) (NASDAQ:FNLC) EVP Sarah Tolman Sells 5,200 Shares of Stock

First Bancorp, Inc (ME) (NASDAQ:FNLC) EVP Sarah Tolman sold 5,200 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $35.22, for a total transaction 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 approximately $77,167.02. This trade represents a 70.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Bancorp, Inc (ME) Stock Up 0.5%

NASDAQ FNLC traded up $0.19 during trading on Wednesday, reaching $35.65. 6,359 shares of the company’s stock traded hands, compared to its average volume of 25,102. First Bancorp, Inc has a 12-month low of $24.08 and a 12-month high of $35.93. 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 $402.13 million, a price-to-earnings ratio of 10.58 and a beta of 0.50. The company’s 50 day simple moving average is $32.14 and its two-hundred day simple moving average is $29.59.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.43%. The firm had revenue of $25.82 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were issued a dividend of $0.38 per share. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 45.10%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, First Bancorp, Inc (ME) currently has a consensus rating of “Buy”.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of First Bancorp, Inc (ME) by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank’s stock worth $1,332,000 after acquiring an additional 2,306 shares during the last quarter. Jane Street Group LLC acquired a new position in First Bancorp, Inc (ME) during the 1st quarter valued at approximately $398,000. Focus Partners Wealth purchased a new position in shares of First Bancorp, Inc (ME) in the first quarter worth $1,500,000. Strs Ohio acquired a new stake in shares of First Bancorp, Inc (ME) during the first quarter worth $96,000. Finally, Geode Capital Management LLC grew its holdings in shares of First Bancorp, Inc (ME) by 0.4% during the second quarter. Geode Capital Management LLC now owns 240,885 shares of the bank’s stock valued at $6,122,000 after buying an additional 1,063 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

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.