First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.62 and traded as high as $28.96. First Bancorp, Inc (ME) shares last traded at $28.94, with a volume of 23,670 shares.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Buy rating, According to MarketBeat, First Bancorp, Inc (ME) has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Stock Up 1.3%

The firm has a market cap of $326.44 million, a price-to-earnings ratio of 8.93 and a beta of 0.52. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a 50-day moving average of $28.53 and a 200-day moving average of $27.62.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter. The business 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 given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. First Bancorp, Inc (ME)’s dividend payout ratio is currently 45.68%.

Insider Transactions at First Bancorp, Inc (ME)

In related news, Director Kimberly Swan purchased 1,500 shares of First Bancorp, Inc (ME) stock in a transaction that occurred on Thursday, April 30th. The shares were acquired at an average price of $28.69 per share, with a total value of $43,035.00. Following the completion of the transaction, the director directly owned 14,470 shares of the company’s stock, valued at $415,144.30. This represents a 11.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.11% of the stock is owned by corporate insiders.

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

A number of large investors have recently added to or reduced their stakes in the stock. Rhino Investment Partners Inc acquired a new stake in First Bancorp, Inc (ME) during the first quarter worth approximately $1,362,000. Empowered Funds LLC lifted its stake in First Bancorp, Inc (ME) by 7.0% during the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock worth $262,000 after purchasing an additional 608 shares during the last quarter. Quantinno Capital Management LP lifted its stake in First Bancorp, Inc (ME) by 37.8% during the first quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank’s stock worth $1,558,000 after purchasing an additional 15,263 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in First Bancorp, Inc (ME) by 54.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,168 shares of the bank’s stock worth $89,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in First Bancorp, Inc (ME) by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 47,867 shares of the bank’s stock worth $1,342,000 after purchasing an additional 2,479 shares during the last quarter. Institutional investors and hedge funds 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.