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

Key Points

• First Bancorp, Inc (ME) declared a quarterly dividend of $0.37 per share, to be paid on October 16th to stockholders of record as of October 6th, with an annualized yield of 5.6%.
• The company's stock experienced a slight decrease, trading at $26.30, with a market cap of $294.82 million and a P/E ratio of 9.81.
• In the second quarter, First Bancorp reported earnings of $0.72 per share and a net margin of 17.39%, alongside revenue of $22.54 million.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) declared a quarterly dividend on Thursday, September 25th, RTT News reports. Stockholders of record on Monday, October 6th will be paid a dividend of 0.37 per share by the bank on Thursday, October 16th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%.

First Bancorp, Inc (ME) Price Performance

Shares of FNLC stock traded down $0.19 during mid-day trading on Thursday, reaching $26.30. The company's stock had a trading volume of 14,347 shares, compared to its average volume of 19,095. First Bancorp, Inc has a 1-year low of $22.11 and a 1-year high of $31.05. The company has a market cap of $294.82 million, a P/E ratio of 9.81 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 0.86. The firm's 50-day moving average is $26.37 and its two-hundred day moving average is $25.20.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a net margin of 17.39% and a return on equity of 11.60%. The company had revenue of $22.54 million during the quarter.

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

A number of hedge funds have recently added to or reduced their stakes in FNLC. First Bancorp Inc ME boosted its stake in shares of First Bancorp, Inc (ME) by 1.4% in the 2nd quarter. First Bancorp Inc ME now owns 737,505 shares of the bank's stock valued at $18,740,000 after purchasing an additional 9,916 shares during the last quarter. Geode Capital Management LLC boosted its stake 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. CSM Advisors LLC bought a new position in shares of First Bancorp, Inc (ME) in the 2nd quarter valued at about $1,738,000. Focus Partners Wealth acquired a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter valued at approximately $1,500,000. Finally, Goldman Sachs Group Inc. boosted its stake 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 worth $1,332,000 after acquiring an additional 2,306 shares during the last quarter. Institutional investors own 40.41% of the company's stock.

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.

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