First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock 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 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 trading hands.

Wall Street Analyst Weigh In

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 data from MarketBeat, First Bancorp, Inc (ME) presently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Trading Up 0.9%

The business’s 50-day moving average price is $27.63 and its two-hundred day moving average price is $26.60. The company has a market capitalization of $320.67 million, a P/E ratio of 9.31 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.87.

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

First Bancorp, Inc (ME) Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, January 6th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, January 6th. First Bancorp, Inc (ME)’s payout ratio is 48.21%.

Institutional Trading of First Bancorp, Inc (ME)

Several hedge funds have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in First Bancorp, Inc (ME) by 10.3% in the fourth quarter. Invesco Ltd. now owns 8,551 shares of the bank’s stock valued at $226,000 after buying an additional 799 shares in the last quarter. Empowered Funds LLC lifted its position in First Bancorp, Inc (ME) by 7.9% in the 4th quarter. Empowered Funds LLC now owns 8,746 shares of the bank’s stock valued at $231,000 after acquiring an additional 642 shares in the last quarter. Millennium Management LLC lifted its position in First Bancorp, Inc (ME) by 19.8% in the 4th quarter. Millennium Management LLC now owns 12,232 shares of the bank’s stock valued at $323,000 after acquiring an additional 2,021 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in First Bancorp, Inc (ME) by 230.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 30,046 shares of the bank’s stock worth $794,000 after purchasing an additional 20,942 shares during the period. Finally, Trexquant Investment LP increased its holdings in First Bancorp, Inc (ME) by 56.9% during the 4th quarter. Trexquant Investment LP now owns 26,514 shares of the bank’s stock worth $701,000 after purchasing an additional 9,619 shares in the last quarter. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.