First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.60 and traded as high as $28.85. First Bancorp, Inc (ME) shares last traded at $28.58, with a volume of 14,406 shares.

Analysts Set New Price Targets

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

First Bancorp, Inc (ME) Price Performance

The stock has a market capitalization of $310.21 million, a PE ratio of 9.01 and a beta of 0.59. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.35. The stock’s 50-day moving average is $27.63 and its 200 day moving average is $26.62.

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

First Bancorp, Inc (ME) Dividend Announcement

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

Institutional Investors Weigh In On First Bancorp, Inc (ME)

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