First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

First Bancorp, Inc (ME) (NASDAQ:FNLC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.71 and traded as high as $28.45. First Bancorp, Inc (ME) shares last traded at $28.36, with a volume of 29,686 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of First Bancorp, Inc (ME) in a research report on Monday, December 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

First Bancorp, Inc (ME) Trading Up 2.0%

The firm has a market capitalization of $318.20 million, a P/E ratio of 10.09 and a beta of 0.60. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $25.46 and a 200-day simple moving average of $25.71.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its quarterly earnings data on Wednesday, October 22nd. The bank reported $0.81 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a net margin of 17.94% and a return on equity of 11.98%. The company had revenue of $25.31 million for the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Monday, October 6th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Monday, October 6th. First Bancorp, Inc (ME)’s dividend payout ratio is 52.67%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in First Bancorp, Inc (ME) by 2,655.9% in the third 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 grew its stake in shares of 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 valued at $39,000 after acquiring an additional 415 shares during the period. CWM LLC increased its holdings in First Bancorp, Inc (ME) by 226.6% in the 3rd quarter. CWM LLC now owns 1,708 shares of the bank’s stock worth $45,000 after acquiring an additional 1,185 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in 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 worth $53,000 after acquiring an additional 435 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised 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 worth $64,000 after acquiring an additional 2,133 shares during the period. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

First Bancorp, Inc (ME) Company Profile

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.