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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.41 and traded as high as $34.09. First Bancorp, Inc (ME) shares last traded at $33.99, with a volume of 33,054 shares changing hands.

Analyst Ratings Changes

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

First Bancorp, Inc (ME) Trading Up 0.3%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $383.41 million, a price-to-earnings ratio of 10.09 and a beta of 0.50. The firm has a 50-day moving average of $31.73 and a 200 day moving average of $29.41.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.43% and a net margin of 21.43%.The company had revenue of $25.82 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, July 7th were paid a dividend of $0.38 per share. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 46.91%.

Insiders Place Their Bets

In related news, Director Kimberly Swan acquired 1,500 shares of First Bancorp, Inc (ME) 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 acquisition, the director directly owned 14,470 shares of the company’s stock, valued at $415,144.30. This trade represents a 11.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.11% of the stock is owned by insiders.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position 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 valued at $25,000 after acquiring an additional 903 shares in the last quarter. BNP Paribas Financial Markets boosted its position in 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 period. PNC Financial Services Group Inc. grew its stake in First Bancorp, Inc (ME) by 27.7% during 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 in the last quarter. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 2,133 shares in the last quarter. Finally, CWM LLC lifted its position in shares of First Bancorp, Inc (ME) by 79.9% in 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 in the last quarter. 40.41% of the stock is owned by institutional investors and hedge funds.

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.