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

First Bancorp, Inc (ME) (NASDAQ:FNLC) issued its quarterly earnings results on Wednesday. The bank reported $0.80 earnings per share (EPS) for the quarter, FiscalAI reports. First Bancorp, Inc (ME) had a net margin of 20.34% and a return on equity of 13.23%. The company had revenue of $45.83 million during the quarter.

First Bancorp, Inc (ME) Stock Up 1.7%

Shares of NASDAQ:FNLC opened at $29.10 on Friday. The firm has a 50 day simple moving average of $28.32 and a 200-day simple moving average of $27.05. First Bancorp, Inc has a twelve month low of $23.36 and a twelve month high of $30.33. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $327.96 million, a PE ratio of 8.98 and a beta of 0.52.

First Bancorp, Inc (ME) Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Tuesday, April 7th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Tuesday, April 7th. First Bancorp, Inc (ME)’s payout ratio is currently 45.68%.

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

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

Analyst Upgrades and Downgrades

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

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.