First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of First Bancorp, Inc (ME) (NASDAQ:FNLC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.23 and traded as high as $33.90. First Bancorp, Inc (ME) shares last traded at $33.12, with a volume of 119,208 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Trading Up 0.7%

The firm has a 50-day moving average of $29.41 and a two-hundred day moving average of $28.34. The firm has a market capitalization of $384.65 million, a P/E ratio of 10.52 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter. The firm had revenue of $25.87 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.09% and a net margin of 20.34%.

First Bancorp, Inc (ME) Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Tuesday, April 7th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.48 annualized dividend and a dividend yield of 4.3%. First Bancorp, Inc (ME)’s payout ratio is 45.68%.

Insider Transactions at First Bancorp, Inc (ME)

In related news, Director Kimberly Swan acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was acquired at an average price of $28.69 per share, with a total value of $43,035.00. Following the purchase, the director directly owned 14,470 shares in the company, valued at approximately $415,144.30. This trade represents a 11.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its stake in shares of First Bancorp, Inc (ME) by 2,655.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after acquiring an additional 903 shares during the last quarter. BNP Paribas Financial Markets grew its position in 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 worth $39,000 after acquiring an additional 415 shares during 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 purchasing an additional 435 shares in the last quarter. Tower Research Capital LLC TRC raised its position in First Bancorp, Inc (ME) by 540.0% in the second 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 during the last quarter. Finally, CWM LLC raised its position in First Bancorp, Inc (ME) by 79.9% in the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after purchasing an additional 1,365 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.