First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Passes Above 200 Day Moving Average – Here’s Why

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.72 and traded as high as $28.00. First Bancorp, Inc (ME) shares last traded at $27.47, with a volume of 18,322 shares.

Wall Street Analyst Weigh In

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

First Bancorp, Inc (ME) Trading Down 0.7%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average is $27.85 and its 200 day moving average is $26.72. The stock has a market capitalization of $309.59 million, a price-to-earnings ratio of 8.95 and a beta of 0.58.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its quarterly earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. The company had revenue of $21.81 million for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.70%.

First Bancorp, Inc (ME) Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Tuesday, January 6th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, January 6th. First Bancorp, Inc (ME)’s payout ratio is currently 48.21%.

Institutional Trading of First Bancorp, Inc (ME)

Hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of First Bancorp, Inc (ME) by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank’s stock valued at $1,332,000 after purchasing an additional 2,306 shares during the period. Jane Street Group LLC acquired a new stake in First Bancorp, Inc (ME) during the first quarter worth $398,000. Focus Partners Wealth acquired a new stake in First Bancorp, Inc (ME) during the first quarter worth $1,500,000. Strs Ohio bought a new stake in First Bancorp, Inc (ME) in the 1st quarter valued at $96,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of First Bancorp, Inc (ME) by 16.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,827 shares of the bank’s stock valued at $605,000 after buying an additional 3,283 shares in the last quarter. Institutional investors own 40.41% of the company’s stock.

First Bancorp, Inc (ME) Company Profile

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.