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

First Bancorp, Inc (ME) (NASDAQ:FNLC) issued its quarterly earnings results on Wednesday. The bank reported $0.91 earnings per share for the quarter, Zacks reports. The company had revenue of $21.81 million during the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.90%.

First Bancorp, Inc (ME) Trading Down 0.6%

Shares of FNLC stock opened at $27.47 on Friday. 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 business’s 50 day moving average is $26.54 and its two-hundred day moving average is $26.15. The company has a market cap of $308.21 million, a PE ratio of 8.95 and a beta of 0.59. First Bancorp, Inc has a 12 month low of $22.11 and a 12 month high of $28.60.

First Bancorp, Inc (ME) Announces Dividend

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

Wall Street Analyst Weigh In

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

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

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its position in First Bancorp, Inc (ME) by 4.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank’s stock worth $1,332,000 after buying an additional 2,306 shares during the period. Jane Street Group LLC acquired a new position in shares of First Bancorp, Inc (ME) during the first quarter valued at about $398,000. Focus Partners Wealth bought a new stake in shares of First Bancorp, Inc (ME) in the first quarter valued at about $1,500,000. Strs Ohio acquired a new stake in First Bancorp, Inc (ME) during the first quarter worth about $96,000. Finally, Geode Capital Management LLC increased its stake in 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 acquiring an additional 1,063 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

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.