BidaskClub cut shares of First Bancorp (NASDAQ:FNLC) from a hold rating to a sell rating in a research note issued to investors on Saturday.

First Bancorp (FNLC) opened at $29.15 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.64. First Bancorp has a 1-year low of $25.00 and a 1-year high of $33.21. The company has a market capitalization of $316.60, a P/E ratio of 16.81 and a beta of 0.63.

First Bancorp (NASDAQ:FNLC) last released its earnings results on Wednesday, October 18th. The bank reported $0.46 EPS for the quarter. First Bancorp had a return on equity of 10.68% and a net margin of 26.51%. The company had revenue of $15.45 million for the quarter.

In other First Bancorp news, Director Bruce B. Tindal sold 3,450 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $30.58, for a total transaction of $105,501.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.63% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in First Bancorp during the 2nd quarter worth approximately $211,000. Beacon Investment Advisory Services Inc. bought a new position in First Bancorp during the 3rd quarter worth approximately $242,000. Alliancebernstein L.P. lifted its holdings in First Bancorp by 15.8% during the 2nd quarter. Alliancebernstein L.P. now owns 10,279 shares of the bank’s stock worth $278,000 after buying an additional 1,400 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in First Bancorp by 1.9% during the 2nd quarter. Wells Fargo & Company MN now owns 13,825 shares of the bank’s stock worth $374,000 after buying an additional 259 shares during the last quarter. Finally, Menta Capital LLC bought a new position in First Bancorp during the 2nd quarter worth approximately $376,000. 32.03% of the stock is currently owned by institutional investors.

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First Bancorp Company Profile

The First Bancorp, Inc is the bank holding company of First National Bank (the Bank). The Bank offers a range of financial services to individuals and companies in coastal Maine. The Company, through First Advisors, a division of the Bank, offers a range of private banking, financial planning, investment management and trust services to individuals, businesses, non-profit organizations and municipalities of various asset sizes.

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