First Bancorp (FNLC) Posts Quarterly Earnings Results

First Bancorp (NASDAQ:FNLC) released its quarterly earnings data on Wednesday. The bank reported $0.57 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. The business had revenue of $16.04 million during the quarter. First Bancorp had a return on equity of 12.71% and a net margin of 28.31%.

Shares of NASDAQ:FNLC traded down $0.17 on Thursday, hitting $26.32. 100 shares of the company’s stock were exchanged, compared to its average volume of 9,955. The stock has a market cap of $287.22 million, a P/E ratio of 12.11 and a beta of 0.62. First Bancorp has a 1-year low of $24.49 and a 1-year high of $31.61. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.76 and a current ratio of 0.76.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.16 annualized dividend and a dividend yield of 4.41%.

FNLC has been the subject of several analyst reports. BidaskClub raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. ValuEngine cut First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st.

In other news, EVP Charles A. Wootton sold 1,516 shares of the company’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $25.46, for a total transaction of $38,597.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.69% of the company’s stock.

A hedge fund recently raised its stake in First Bancorp stock. Geode Capital Management LLC raised its holdings in shares of First Bancorp Inc (NASDAQ:FNLC) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,781 shares of the bank’s stock after acquiring an additional 6,097 shares during the quarter. Geode Capital Management LLC owned approximately 0.93% of First Bancorp worth $2,650,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 33.10% of the company’s stock.

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About First Bancorp

The First Bancorp, Inc operates as a bank. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

Further Reading: Sell-Side Analysts

Earnings History for First Bancorp (NASDAQ:FNLC)

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