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

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $0.72 EPS for the quarter, Zacks reports. First Bancorp, Inc (ME) had a return on equity of 11.70% and a net margin of 17.39%. The business had revenue of $22.54 million for the quarter.

First Bancorp, Inc (ME) Price Performance

Shares of FNLC stock traded up $0.61 during trading hours on Friday, hitting $25.49. The stock had a trading volume of 11,053 shares, compared to its average volume of 21,826. First Bancorp, Inc has a one year low of $22.11 and a one year high of $31.05. 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 stock's 50-day moving average price is $25.03 and its two-hundred day moving average price is $25.01. The stock has a market capitalization of $285.49 million, a price-to-earnings ratio of 9.51 and a beta of 0.54.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.81%. This is an increase from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, July 8th. First Bancorp, Inc (ME)'s payout ratio is presently 58.96%.

Insider Activity

In related news, Director Ingrid Wilbur Kachmar acquired 4,000 shares of First Bancorp, Inc (ME) stock in a transaction 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 completion of the purchase, the director directly owned 5,015 shares of the company's stock, valued at $120,861.50. The trade was a 394.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.09% of the company's stock.

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

Several large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in shares of First Bancorp, Inc (ME) in the first quarter valued at approximately $96,000. Jane Street Group LLC purchased a new stake in First Bancorp, Inc (ME) during the first quarter worth $398,000. Goldman Sachs Group Inc. lifted its holdings in First Bancorp, Inc (ME) by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank's stock worth $1,332,000 after buying an additional 2,306 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of First Bancorp, Inc (ME) during the 1st quarter valued at $1,500,000. 40.41% of the stock is owned by institutional investors.

First Bancorp, Inc (ME) Company Profile

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.