First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Pass Above 200-Day Moving Average – What’s Next?

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.93 and traded as high as $29.19. First Bancorp, Inc (ME) shares last traded at $28.79, with a volume of 20,886 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded 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 data from MarketBeat.com, the stock has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Trading Down 1.5%

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $28.38 and a 200-day moving average price of $26.93. The firm has a market capitalization of $324.46 million, a PE ratio of 9.38 and a beta of 0.52.

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

First Bancorp, Inc (ME) Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Tuesday, April 7th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, April 7th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.1%. First Bancorp, Inc (ME)’s dividend payout ratio is 48.21%.

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

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in shares of First Bancorp, Inc (ME) by 2,655.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock worth $25,000 after acquiring an additional 903 shares in the last quarter. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 415 shares during the last quarter. CWM LLC raised its holdings in First Bancorp, Inc (ME) by 226.6% during the third quarter. CWM LLC now owns 1,708 shares of the bank’s stock worth $45,000 after purchasing an additional 1,185 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in First Bancorp, Inc (ME) by 27.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock worth $53,000 after purchasing an additional 435 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in First Bancorp, Inc (ME) by 540.0% during the second 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 in the last quarter. Hedge funds and other institutional investors 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.