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

First Bancorp, Inc (ME) (NASDAQ:FNLC) announced its quarterly earnings results on Wednesday. The bank reported $0.95 earnings per share 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 13.30% and a net margin of 21.43%.

First Bancorp, Inc (ME) Stock Performance

Shares of FNLC stock traded up $0.18 during midday trading on Wednesday, hitting $34.56. 42,730 shares of the company were exchanged, compared to its average volume of 27,666. The firm has a market capitalization of $389.91 million, a P/E ratio of 10.26 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $34.50 and its two-hundred day moving average price is $32.45. First Bancorp, Inc has a 52 week low of $24.39 and a 52 week high of $36.30.

First Bancorp, Inc (ME) Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, October 6th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, October 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 45.10%.

Insider Buying and Selling

In related news, EVP Sarah Tolman sold 5,200 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total value of $183,144.00. Following the transaction, the executive vice president owned 2,191 shares in the company, valued at approximately $77,167.02. This represents a 70.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.11% of the company’s stock.

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

Hedge funds have recently bought and sold shares of the stock. Premier Financial Group acquired a new stake in First Bancorp, Inc (ME) during the 2nd quarter worth approximately $178,000. Squarepoint Ops LLC bought a new stake in First Bancorp, Inc (ME) in the 2nd quarter valued at $274,000. Kimelman & Baird LLC bought a new stake in First Bancorp, Inc (ME) in the 2nd quarter valued at $1,240,000. Empowered Funds LLC acquired a new position in First Bancorp, Inc (ME) in the 2nd quarter valued at $417,000. Finally, Bank of America Corp DE acquired a new position in First Bancorp, Inc (ME) in the 2nd quarter valued at $799,000. 40.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, First Bancorp, Inc (ME) presently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Company Profile

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

First National Bank offers deposit products, residential and commercial real estate lending, consumer loans, business financing and other commercial banking services. The bank also provides wealth management and investment-related services through its trust and investment operations.

First National Bank traces its history to 1852 and operates a community banking network serving customers primarily in central and coastal Maine.