First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Passes Above 200 Day Moving Average – What’s Next?

First Bancorp, Inc (ME) (NASDAQ:FNLC) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.48 and traded as high as $29.55. First Bancorp, Inc (ME) shares last traded at $28.85, with a volume of 16,438 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.

First Bancorp, Inc (ME) Stock Performance

The stock has a 50 day moving average of $27.61 and a 200 day moving average of $26.48. The company has a market capitalization of $323.70 million, a price-to-earnings ratio of 9.40 and a beta of 0.59. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.35.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.90%. The firm had revenue of $21.81 million for the quarter.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, January 6th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio (DPR) is presently 48.21%.

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

Several large investors have recently added to or reduced their stakes in the business. 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 period. Geode Capital Management LLC lifted its position in shares of First Bancorp, Inc (ME) by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 242,126 shares of the bank’s stock valued at $6,403,000 after acquiring an additional 1,168 shares during the period. State Street Corp boosted its stake in First Bancorp, Inc (ME) by 1.4% during the fourth quarter. State Street Corp now owns 223,936 shares of the bank’s stock worth $5,921,000 after acquiring an additional 3,018 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in First Bancorp, Inc (ME) by 16.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 75,979 shares of the bank’s stock worth $2,009,000 after purchasing an additional 10,715 shares during the period. Finally, CSM Advisors LLC bought a new stake in First Bancorp, Inc (ME) in the second quarter valued at $1,738,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

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.