Short Interest in First Bancorp, Inc (ME) (NASDAQ:FNLC) Grows By 38.8%

First Bancorp, Inc (ME) (NASDAQ:FNLC) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 81,752 shares, a growth of 38.8% from the February 26th total of 58,906 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 18,664 shares, the days-to-cover ratio is presently 4.4 days.

First Bancorp, Inc (ME) Stock Performance

Shares of FNLC stock opened at $28.22 on Tuesday. The stock has a market cap of $318.04 million, a PE ratio of 9.19 and a beta of 0.58. The stock has a 50-day moving average of $28.02 and a 200-day moving average of $26.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. First Bancorp, Inc has a one year low of $22.11 and a one year high of $30.33.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share for the quarter. The company had revenue of $21.81 million for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.70%.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Tuesday, April 7th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Tuesday, April 7th. First Bancorp, Inc (ME)’s payout ratio is presently 48.21%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Hedge Funds Weigh In On First Bancorp, Inc (ME)

Institutional investors have recently modified their holdings of the business. Focus Partners Wealth bought a new stake in First Bancorp, Inc (ME) during the 1st quarter worth approximately $1,500,000. Arrowstreet Capital Limited Partnership bought a new position in First Bancorp, Inc (ME) in the second quarter valued at approximately $729,000. TrueMark Investments LLC acquired a new position in shares of First Bancorp, Inc (ME) in the third quarter valued at approximately $575,000. Bridgeway Capital Management LLC boosted its holdings in shares of First Bancorp, Inc (ME) by 230.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 30,046 shares of the bank’s stock valued at $794,000 after buying an additional 20,942 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of First Bancorp, Inc (ME) during the second quarter worth $446,000. Institutional investors own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Company Profile

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.