First Bancorp, Inc (ME) (NASDAQ:FNLC) to Issue Quarterly Dividend of $0.38

First Bancorp, Inc (ME) (NASDAQ:FNLC) declared a quarterly dividend on Thursday, June 25th. Stockholders of record on Tuesday, July 7th will be paid a dividend of 0.38 per share by the bank on Friday, July 17th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, July 7th. This is a 2.7% increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37.

First Bancorp, Inc (ME) has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 6 years.

First Bancorp, Inc (ME) Stock Performance

NASDAQ FNLC opened at $34.05 on Friday. The business has a 50 day simple moving average of $29.51 and a two-hundred day simple moving average of $28.40. First Bancorp, Inc has a 1-year low of $24.08 and a 1-year high of $34.50. The stock has a market capitalization of $384.08 million, a PE ratio of 10.51 and a beta of 0.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter. The company had revenue of $25.87 million for the quarter. First Bancorp, Inc (ME) had a net margin of 20.34% and a return on equity of 13.09%.

Insider Buying and Selling at First Bancorp, Inc (ME)

In other First Bancorp, Inc (ME) news, Director Kimberly Swan acquired 1,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $28.69 per share, for a total transaction of $43,035.00. Following the completion of the purchase, the director owned 14,470 shares in the company, valued at approximately $415,144.30. This trade represents a 11.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 5.11% of the company’s stock.

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

A number of hedge funds have recently made changes to their positions in FNLC. Empowered Funds LLC lifted its holdings in shares of First Bancorp, Inc (ME) by 7.0% during the 1st quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock valued at $262,000 after purchasing an additional 608 shares during the last quarter. Quantinno Capital Management LP boosted its position in First Bancorp, Inc (ME) by 37.8% in the first quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank’s stock valued at $1,558,000 after buying an additional 15,263 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Bancorp, Inc (ME) by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 47,867 shares of the bank’s stock worth $1,342,000 after acquiring an additional 2,479 shares during the period. Russell Investments Group Ltd. grew its position in First Bancorp, Inc (ME) by 40.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank’s stock worth $35,000 after purchasing an additional 383 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in First Bancorp, Inc (ME) by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $53,000 after acquiring an additional 435 shares during the period. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

About First Bancorp, Inc (ME)

First Bancorp, Inc (NASDAQ: FNLC) is a Maine-based bank holding company headquartered in Dover-Foxcroft. Through its principal subsidiary, The First National Bank of Dover-Foxcroft, the company provides a full suite of community banking services to individuals, small businesses and nonprofit organizations. Its core deposit offerings include checking, savings, money market and certificate of deposit accounts, complemented by online and mobile banking platforms.

On the lending side, First Bancorp’s product portfolio spans consumer and residential mortgage loans as well as commercial and agricultural lending.