First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.82 and traded as high as $34.98. First Bancorp, Inc (ME) shares last traded at $33.86, with a volume of 27,638 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, First Bancorp, Inc (ME) has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Price Performance

The company’s 50-day simple moving average is $30.47 and its 200-day simple moving average is $28.82. The company has a market cap of $381.94 million, a price-to-earnings ratio of 10.45 and a beta of 0.50. 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 issued its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.80 EPS for the quarter. The firm had revenue of $25.87 million for the quarter. First Bancorp, Inc (ME) had a net margin of 20.34% and a return on equity of 13.09%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, July 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.5%. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, July 7th. First Bancorp, Inc (ME)’s payout ratio is presently 45.68%.

Insider Buying and Selling

In other First Bancorp, Inc (ME) news, Director Kimberly Swan purchased 1,500 shares of First Bancorp, Inc (ME) stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $28.69 per share, with a total value of $43,035.00. Following the completion of the acquisition, the director owned 14,470 shares of the company’s stock, valued at approximately $415,144.30. This trade represents a 11.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth acquired a new position in First Bancorp, Inc (ME) during the 1st quarter worth $1,500,000. Rhino Investment Partners Inc bought a new stake in First Bancorp, Inc (ME) in the first quarter valued at about $1,362,000. Arrowstreet Capital Limited Partnership bought a new stake in First Bancorp, Inc (ME) in the second quarter valued at about $729,000. Bridgeway Capital Management LLC raised its stake in First Bancorp, Inc (ME) by 230.0% during 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 in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in First Bancorp, Inc (ME) during the second quarter valued at approximately $446,000. 40.41% of the stock is currently 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.