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

First Bancorp, Inc (ME) (NASDAQ:FNLC) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $27.42 and traded as high as $28.41. First Bancorp, Inc (ME) shares last traded at $27.75, with a volume of 17,399 shares.

Wall Street Analysts Forecast Growth

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

First Bancorp, Inc (ME) Stock Down 2.5%

The stock has a fifty day moving average of $28.38 and a 200 day moving average of $27.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $313.02 million, a P/E ratio of 8.56 and a beta of 0.52.

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

First Bancorp, Inc (ME) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Tuesday, April 7th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, April 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is 45.68%.

Insider Buying and Selling

In related news, Director Kimberly Swan acquired 1,500 shares of the stock in a transaction on Thursday, April 30th. The shares were acquired at an average price of $28.69 per share, with a total value of $43,035.00. Following the completion of the transaction, the director owned 14,470 shares in the company, valued at approximately $415,144.30. The trade was a 11.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.11% of the company’s stock.

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

Several large investors have recently modified their holdings of FNLC. Russell Investments Group Ltd. raised its holdings in shares of First Bancorp, Inc (ME) by 2,655.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after purchasing an additional 903 shares during the period. BNP Paribas Financial Markets grew its holdings in First Bancorp, Inc (ME) by 36.6% during the second 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 period. CWM LLC increased its position in First Bancorp, Inc (ME) by 226.6% in the third quarter. CWM LLC now owns 1,708 shares of the bank’s stock worth $45,000 after buying an additional 1,185 shares during the last quarter. PNC Financial Services Group Inc. increased its position in First Bancorp, Inc (ME) by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $53,000 after buying an additional 435 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of First Bancorp, Inc (ME) by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after buying an additional 2,133 shares during the period. Hedge funds and other 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.