First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.72 and traded as high as $28.00. First Bancorp, Inc (ME) shares last traded at $27.47, with a volume of 18,322 shares traded.

Analyst Upgrades and Downgrades

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

First Bancorp, Inc (ME) Trading Down 0.7%

The company has a market cap of $309.59 million, a P/E ratio of 8.95 and a beta of 0.58. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $27.85 and a 200-day moving average price of $26.72.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share for the quarter. The business had revenue of $21.81 million during 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, January 6th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is 48.21%.

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

A number of institutional investors and hedge funds have recently modified their holdings of FNLC. Russell Investments Group Ltd. lifted its position in shares of First Bancorp, Inc (ME) by 2,655.9% in the third quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after buying an additional 903 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of First Bancorp, Inc (ME) by 36.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after acquiring an additional 415 shares during the last quarter. CWM LLC raised its stake in First Bancorp, Inc (ME) by 226.6% in the 3rd quarter. CWM LLC now owns 1,708 shares of the bank’s stock valued at $45,000 after acquiring an additional 1,185 shares during the period. PNC Financial Services Group Inc. raised its stake in First Bancorp, Inc (ME) by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after acquiring an additional 435 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in 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 valued at $64,000 after purchasing an additional 2,133 shares during the last quarter. 40.41% of the stock is owned by institutional investors.

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.