First Bancorp, Inc (ME) (NASDAQ:FNLC) Short Interest Down 24.3% in August

Key Points

• Short interest in First Bancorp, Inc (ME) decreased by 24.3% in August, falling from 55,100 shares to 41,700 shares.
• The company has announced a quarterly dividend of $0.37, up from $0.36, resulting in an annualized dividend of $1.48 and a yield of 5.6%.
• During mid-day trading, the stock price of First Bancorp, Inc (ME) rose to $26.63, with a market cap of $298.47 million and a PE ratio of 9.93.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 41,700 shares, a decline of 24.3% from the August 15th total of 55,100 shares. Based on an average daily volume of 21,200 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.4% of the company's stock are sold short. Currently, 0.4% of the company's stock are sold short. Based on an average daily volume of 21,200 shares, the days-to-cover ratio is currently 2.0 days.

First Bancorp, Inc (ME) Stock Down 3.1%

FNLC traded down $0.86 on Friday, hitting $26.67. 71,801 shares of the company were exchanged, compared to its average volume of 16,643. First Bancorp, Inc has a twelve month low of $22.11 and a twelve month high of $31.05. The company has a market cap of $298.97 million, a price-to-earnings ratio of 9.95 and a beta of 0.56. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $26.33 and a two-hundred day moving average price of $25.16.

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

First Bancorp, Inc (ME) Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Tuesday, July 8th were issued a dividend of $0.37 per share. This is a positive change from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a yield of 5.5%. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is presently 55.22%.

Institutional Trading of First Bancorp, Inc (ME)

Several institutional investors and hedge funds have recently made changes to their positions in FNLC. BNP Paribas Financial Markets lifted its holdings in shares of First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank's stock valued at $39,000 after purchasing an additional 415 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of First Bancorp, Inc (ME) by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank's stock valued at $64,000 after purchasing an additional 2,133 shares during the last quarter. Strs Ohio purchased a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter valued at about $96,000. GAMMA Investing LLC lifted its holdings in shares of First Bancorp, Inc (ME) by 13,325.5% in the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank's stock valued at $169,000 after purchasing an additional 6,796 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of First Bancorp, Inc (ME) in the 2nd quarter valued at about $213,000. 40.41% of the stock is owned by hedge funds and other institutional investors.

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.