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

First Bancorp, Inc (ME) (NASDAQ:FNLC) posted its quarterly earnings data on Wednesday. The bank reported $0.91 earnings per share (EPS) for the quarter, Zacks reports. First Bancorp, Inc (ME) had a net margin of 17.94% and a return on equity of 11.98%.

First Bancorp, Inc (ME) Price Performance

Shares of NASDAQ:FNLC traded up $1.01 during midday trading on Wednesday, hitting $27.64. The company had a trading volume of 23,537 shares, compared to its average volume of 22,387. First Bancorp, Inc has a twelve month low of $22.11 and a twelve month high of $28.60. The stock has a market cap of $310.12 million, a price-to-earnings ratio of 9.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day simple moving average is $26.47 and its 200-day simple moving average is $26.13.

First Bancorp, Inc (ME) Dividend Announcement

The business also recently declared 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 dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is currently 52.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FNLC. Russell Investments Group Ltd. lifted its holdings in shares of First Bancorp, Inc (ME) by 2,655.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after acquiring an additional 903 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after purchasing an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised 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 valued at $53,000 after purchasing an additional 435 shares during the period. Tower Research Capital LLC TRC lifted its stake in First Bancorp, Inc (ME) by 540.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after purchasing an additional 2,133 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of First Bancorp, Inc (ME) during the first quarter worth $96,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Analysts Set New Price Targets

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

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.