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

First Bancorp, Inc (ME) (NASDAQ:FNLC) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.33 and traded as high as $30.00. First Bancorp, Inc (ME) shares last traded at $29.14, with a volume of 22,099 shares trading hands.

Wall Street Analysts Forecast Growth

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

First Bancorp, Inc (ME) Stock Down 2.0%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $326.95 million, a PE ratio of 9.49 and a beta of 0.59. The business has a 50 day moving average of $27.26 and a two-hundred day moving average of $26.33.

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

First Bancorp, Inc (ME) Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake 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 valued at $25,000 after buying an additional 903 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock valued at $39,000 after purchasing an additional 415 shares during the last quarter. CWM LLC boosted its stake 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 purchasing an additional 1,185 shares in the last quarter. PNC Financial Services Group Inc. grew its position in First Bancorp, Inc (ME) by 27.7% during the 3rd 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 during the last quarter. Finally, Tower Research Capital LLC TRC increased 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 valued at $64,000 after purchasing an additional 2,133 shares in the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

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.