First Bancorp, Inc (ME) (NASDAQ:FNLC) Declares Quarterly Dividend of $0.37

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) announced a quarterly dividend on Thursday, June 26th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 5.94%. This is a 2.8% increase from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36.

First Bancorp, Inc (ME) Trading Up 0.9%

FNLC stock traded up $0.23 during trading on Thursday, reaching $24.93. The company had a trading volume of 15,438 shares, compared to its average volume of 19,272. The business has a 50 day moving average of $24.30 and a 200 day moving average of $25.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $279.22 million, a P/E ratio of 9.84 and a beta of 0.53. First Bancorp, Inc has a 52 week low of $22.11 and a 52 week high of $31.05.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.63 earnings per share for the quarter. The business had revenue of $21.80 million during 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 purchased 4,000 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were bought at an average cost of $24.10 per share, with a total value of $96,400.00. Following the acquisition, the director now owns 5,015 shares in the company, valued at approximately $120,861.50. This trade represents a 394.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimberly Swan purchased 1,600 shares of the firm's stock in a transaction on Thursday, April 24th. The stock was bought at an average price of $24.42 per share, for a total transaction of $39,072.00. Following the purchase, the director now owns 12,183 shares in the company, valued at approximately $297,508.86. This represents a 15.12% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.09% of the company's stock.

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

A number of institutional investors and hedge funds have recently modified their holdings of FNLC. Focus Partners Wealth bought a new position in shares of First Bancorp, Inc (ME) during the first quarter valued at approximately $1,500,000. Jane Street Group LLC bought a new stake in shares of First Bancorp, Inc (ME) during the first quarter worth $398,000. Strs Ohio bought a new position in shares of First Bancorp, Inc (ME) in the first quarter worth about $96,000. Finally, Goldman Sachs Group Inc. lifted its holdings in First Bancorp, Inc (ME) by 4.5% during 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. Hedge funds and other institutional investors 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.

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