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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $27.77 and traded as high as $28.84. First Bancorp, Inc (ME) shares last traded at $28.57, with a volume of 26,996 shares changing hands.

Analyst Ratings Changes

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 research 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) Price Performance

The firm has a fifty day moving average of $28.72 and a 200 day moving average of $27.77. The company has a market capitalization of $322.27 million, a P/E ratio of 8.82 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.80 EPS for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.09% and a net margin of 20.34%.The company had revenue of $25.87 million during the quarter.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Tuesday, April 7th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, April 7th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 45.68%.

Insider Buying and Selling

In other First Bancorp, Inc (ME) 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 bought at an average cost of $28.69 per share, for a total transaction of $43,035.00. Following the acquisition, the director owned 14,470 shares of the company’s stock, valued at $415,144.30. This represents a 11.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 5.11% of the company’s stock.

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

Several large investors have recently bought and sold shares of FNLC. Russell Investments Group Ltd. increased its holdings in 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 worth $25,000 after buying an additional 903 shares in the last quarter. BNP Paribas Financial Markets increased its position in First Bancorp, Inc (ME) by 36.6% during the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after acquiring an additional 415 shares during the last quarter. PNC Financial Services Group Inc. increased its position in First Bancorp, Inc (ME) by 27.7% during the third 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 last quarter. Tower Research Capital LLC TRC increased its position in First Bancorp, Inc (ME) by 540.0% during the second 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 during the last quarter. Finally, CWM LLC increased its position in First Bancorp, Inc (ME) by 79.9% during the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,365 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors.

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.