First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

First Bancorp, Inc (ME) (NASDAQ:FNLC) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.62 and traded as high as $28.96. First Bancorp, Inc (ME) shares last traded at $28.94, with a volume of 23,670 shares traded.

Wall Street Analysts Forecast Growth

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

First Bancorp, Inc (ME) Trading Up 1.3%

The business has a 50-day simple moving average of $28.53 and a two-hundred day simple moving average of $27.62. The stock has a market cap of $326.44 million, a price-to-earnings ratio of 8.93 and a beta of 0.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share for the quarter. The firm had revenue of $25.87 million for 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) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Tuesday, April 7th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, April 7th. First Bancorp, Inc (ME)’s payout ratio is 45.68%.

Insiders Place Their Bets

In other First Bancorp, Inc (ME) news, Director Kimberly Swan purchased 1,500 shares of the stock in a transaction on Thursday, April 30th. The shares were purchased 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 directly owned 14,470 shares in the company, valued at $415,144.30. This represents a 11.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.11% of the stock is currently owned by company insiders.

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

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of First Bancorp, Inc (ME) by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank’s stock worth $1,332,000 after purchasing an additional 2,306 shares during the period. Jane Street Group LLC bought a new position in shares of First Bancorp, Inc (ME) during the first quarter worth approximately $398,000. Focus Partners Wealth bought a new position in shares of First Bancorp, Inc (ME) during the first quarter worth approximately $1,500,000. Strs Ohio bought a new position in shares of First Bancorp, Inc (ME) during the first quarter worth approximately $96,000. Finally, Geode Capital Management LLC increased its stake in shares of First Bancorp, Inc (ME) by 0.4% during the second quarter. Geode Capital Management LLC now owns 240,885 shares of the bank’s stock worth $6,122,000 after purchasing an additional 1,063 shares during the period. Institutional investors and hedge funds own 40.41% of the company’s stock.

About First Bancorp, Inc (ME)

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.