First Bancorp, Inc (ME) (NASDAQ:FNLC) Raises Dividend to $0.37 Per Share

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) announced a quarterly dividend on Thursday, June 26th, RTT News reports. Shareholders of record on Tuesday, July 8th will be paid a dividend of 0.37 per share by the bank on Friday, July 18th. This represents a $1.48 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Tuesday, July 8th. This is a 2.8% increase from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36.

First Bancorp, Inc (ME) Price Performance

First Bancorp, Inc (ME) stock traded up $0.42 during midday trading on Friday, hitting $25.35. The company's stock had a trading volume of 52,607 shares, compared to its average volume of 18,878. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average price is $24.37 and its 200-day moving average price is $25.13. First Bancorp, Inc has a 12 month low of $22.11 and a 12 month high of $31.05. The company has a market capitalization of $283.92 million, a PE ratio of 10.10 and a beta of 0.53.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.63 EPS for the quarter. The firm had revenue of $21.80 million for the quarter. First Bancorp, Inc (ME) had a net margin of 16.60% and a return on equity of 11.09%.

Insiders Place Their Bets

In other First Bancorp, Inc (ME) news, Director Ingrid Wilbur Kachmar bought 4,000 shares of the company's stock in a transaction dated Monday, April 28th. The shares were bought at an average price of $24.10 per share, for a total transaction of $96,400.00. Following the acquisition, the director now directly owns 5,015 shares of the company's stock, valued at approximately $120,861.50. This trade represents a 394.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Swan bought 1,600 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was acquired at an average price of $24.42 per share, for a total transaction of $39,072.00. Following the acquisition, the director now directly owns 12,183 shares in the company, valued at $297,508.86. This trade represents a 15.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.09% of the company's stock.

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

A number of large investors have recently made changes to their positions in FNLC. Focus Partners Wealth acquired a new position in shares of First Bancorp, Inc (ME) in the 1st quarter valued at about $1,500,000. Jane Street Group LLC bought a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter valued at approximately $398,000. Strs Ohio bought a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter valued at approximately $96,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of 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 valued at $1,332,000 after buying an additional 2,306 shares in the last quarter. Institutional investors and hedge funds own 40.41% of the company's stock.

About First Bancorp, Inc (ME)

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.