First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Cross Above 200 Day Moving Average – Here’s What Happened

First Bancorp, Inc (ME) (NASDAQ:FNLC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.27 and traded as high as $25.94. First Bancorp, Inc (ME) shares last traded at $25.38, with a volume of 38,665 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of First Bancorp, Inc (ME) in a report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

First Bancorp, Inc (ME) Price Performance

The stock has a market capitalization of $284.51 million, a PE ratio of 9.47 and a beta of 0.56. The business’s 50-day moving average price is $26.35 and its 200 day moving average price is $25.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 0.86.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.72 earnings per share (EPS) for the quarter. The company 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) Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Monday, October 6th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Monday, October 6th. First Bancorp, Inc (ME)’s dividend payout ratio is 55.22%.

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

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in 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 worth $39,000 after buying an additional 415 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of First Bancorp, Inc (ME) by 540.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after acquiring an additional 2,133 shares during the last quarter. Strs Ohio purchased a new position in First Bancorp, Inc (ME) in the first quarter worth $96,000. GAMMA Investing LLC increased its stake in First Bancorp, Inc (ME) by 13,325.5% in the first quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock valued at $169,000 after acquiring an additional 6,796 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in First Bancorp, Inc (ME) during the second quarter valued at about $213,000. 40.41% of the stock is currently owned by 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.