Weiss Ratings Reaffirms “Hold (C)” Rating for First Bancorp, Inc (ME) (NASDAQ:FNLC)

First Bancorp, Inc (ME) (NASDAQ:FNLC)‘s stock had its “hold (c)” rating reaffirmed by Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

First Bancorp, Inc (ME) Stock Performance

First Bancorp, Inc (ME) stock opened at $24.79 on Friday. The company has a market cap of $277.92 million, a PE ratio of 8.82 and a beta of 0.56. The company has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $25.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.86 and a quick ratio of 0.86. First Bancorp, Inc has a 12 month low of $22.11 and a 12 month high of $31.05.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.81 EPS for the quarter. The firm had revenue of $24.53 million during the quarter. First Bancorp, Inc (ME) had a net margin of 17.94% and a return on equity of 12.15%.

Hedge Funds Weigh In On First Bancorp, Inc (ME)

A number of hedge funds have recently added to or reduced their stakes in the business. TrueMark Investments LLC acquired a new position in First Bancorp, Inc (ME) in the third quarter worth $575,000. First Bancorp Inc ME lifted its stake in First Bancorp, Inc (ME) by 1.6% in the third quarter. First Bancorp Inc ME now owns 748,982 shares of the bank’s stock valued at $19,668,000 after buying an additional 11,477 shares during the last quarter. CWM LLC lifted its stake in First Bancorp, Inc (ME) by 226.6% in the third quarter. CWM LLC now owns 1,708 shares of the bank’s stock valued at $45,000 after buying an additional 1,185 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in First Bancorp, Inc (ME) by 540.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after buying an additional 2,133 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in First Bancorp, Inc (ME) by 36.6% in the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after buying an additional 415 shares during the last quarter. Institutional investors and hedge funds 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.