First Bancorp, Inc (ME) (NASDAQ:FNLC) Short Interest Up 38.8% in March

First Bancorp, Inc (ME) (NASDAQ:FNLC) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 81,752 shares, an increase of 38.8% from the February 26th total of 58,906 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 18,664 shares, the days-to-cover ratio is presently 4.4 days.

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

Several hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in 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 valued at $25,000 after acquiring an additional 903 shares during the period. BNP Paribas Financial Markets lifted its position in 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 period. CWM LLC grew its stake in shares of First Bancorp, Inc (ME) by 226.6% in the 3rd quarter. CWM LLC now owns 1,708 shares of the bank’s stock valued at $45,000 after purchasing an additional 1,185 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of First Bancorp, Inc (ME) by 27.7% in the 3rd 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 last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Bancorp, Inc (ME) by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after purchasing an additional 2,133 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Stock Performance

NASDAQ FNLC traded up $0.50 on Monday, reaching $28.22. The stock had a trading volume of 22,090 shares, compared to its average volume of 20,132. The stock has a market cap of $318.04 million, a P/E ratio of 9.19 and a beta of 0.58. First Bancorp, Inc has a 12-month low of $22.11 and a 12-month high of $30.33. The business’s 50-day moving average price is $28.00 and its 200 day moving average price is $26.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its earnings results on Wednesday, January 21st. The bank reported $0.91 EPS for the quarter. The business had revenue of $21.81 million for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.70%.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Tuesday, April 7th will be paid a $0.37 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.2%. First Bancorp, Inc (ME)’s payout ratio is currently 48.21%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

About First Bancorp, Inc (ME)

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.