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

First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.08 and traded as high as $34.25. First Bancorp, Inc (ME) shares last traded at $34.04, with a volume of 22,793 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

First Bancorp, Inc (ME) Trading Down 1.7%

The stock has a market capitalization of $389.05 million, a P/E ratio of 10.59 and a beta of 0.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $31.16 and a 200 day moving average price of $29.14.

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

First Bancorp, Inc (ME) Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, July 7th. This is an increase from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. First Bancorp, Inc (ME)’s payout ratio is presently 46.91%.

Insider Activity at First Bancorp, Inc (ME)

In other news, Director Kimberly Swan acquired 1,500 shares of First Bancorp, Inc (ME) stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $28.69 per share, for a total transaction of $43,035.00. Following the purchase, the director directly owned 14,470 shares in the company, valued at $415,144.30. The trade was a 11.57% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.11% of the stock is currently owned by company insiders.

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

Institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its position in shares of First Bancorp, Inc (ME) by 230.0% during the fourth 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 in the last quarter. Wells Fargo & Company MN boosted its position in shares of First Bancorp, Inc (ME) by 31.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,810 shares of the bank’s stock worth $418,000 after purchasing an additional 3,822 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter worth $398,000. Deutsche Bank AG grew its stake in First Bancorp, Inc (ME) by 119.9% during the 4th quarter. Deutsche Bank AG now owns 13,577 shares of the bank’s stock worth $359,000 after buying an additional 7,403 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in First Bancorp, Inc (ME) by 7.9% during the 4th quarter. Empowered Funds LLC now owns 8,746 shares of the bank’s stock worth $231,000 after buying an additional 642 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.