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

First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.15 and traded as high as $27.39. First Bancorp, Inc (ME) shares last traded at $26.79, with a volume of 28,174 shares trading hands.

First Bancorp, Inc (ME) Trading Up 1.4%

The firm has a market cap of $300.32 million, a P/E ratio of 10.00 and a beta of 0.56. The stock has a 50 day simple moving average of $26.28 and a 200-day simple moving average of $25.15. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its earnings results on Wednesday, July 23rd. The bank reported $0.72 EPS for the quarter. First Bancorp, Inc (ME) had a return on equity of 11.60% and a net margin of 17.39%.The firm had revenue of $22.54 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th were issued a $0.37 dividend. This is a boost from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.36. The ex-dividend date was Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.5%. First Bancorp, Inc (ME)’s payout ratio is presently 55.22%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FNLC. BNP Paribas Financial Markets increased its stake 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 worth $39,000 after acquiring an additional 415 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of First Bancorp, Inc (ME) by 540.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock worth $64,000 after purchasing an additional 2,133 shares during the period. Strs Ohio purchased a new position in shares of First Bancorp, Inc (ME) in the 1st quarter worth approximately $96,000. GAMMA Investing LLC increased its position in shares of First Bancorp, Inc (ME) by 13,325.5% during the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank’s stock valued at $169,000 after purchasing an additional 6,796 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in First Bancorp, Inc (ME) during the 2nd quarter valued at $213,000. Institutional investors own 40.41% of the company’s stock.

About First Bancorp, Inc (ME)

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.