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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.08 and traded as high as $34.25. First Bancorp, Inc (ME) shares last traded at $34.04, with a volume of 22,793 shares.

Wall Street Analyst Weigh In

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

First Bancorp, Inc (ME) Price Performance

The company has a fifty day moving average of $31.04 and a 200 day moving average of $29.08. The firm has a market capitalization of $383.84 million, a P/E ratio of 10.51 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 released its earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 20.34% and a return on equity of 13.09%. The business had revenue of $25.87 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.5%. This is a boost 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 dividend payout ratio is currently 46.91%.

Insiders Place Their Bets

In other news, Director Kimberly Swan bought 1,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $28.69 per share, with a total value of $43,035.00. Following the completion of the purchase, the director directly owned 14,470 shares of the company’s stock, valued at approximately $415,144.30. This represents a 11.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.11% of the stock is owned by corporate insiders.

Institutional Trading of First Bancorp, Inc (ME)

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in First Bancorp, Inc (ME) by 2,655.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after acquiring an additional 903 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of 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 valued at $39,000 after purchasing an additional 415 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of 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 purchasing an additional 435 shares during the period. Tower Research Capital LLC TRC boosted its position 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 valued at $64,000 after purchasing an additional 2,133 shares in the last quarter. Finally, CWM LLC grew its stake in First Bancorp, Inc (ME) by 79.9% during the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock worth $81,000 after purchasing an additional 1,365 shares during the period. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.