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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.41 and traded as high as $34.09. First Bancorp, Inc (ME) shares last traded at $33.99, with a volume of 33,054 shares trading hands.

Analysts Set New Price Targets

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

First Bancorp, Inc (ME) Stock Performance

The company has a market cap of $394.43 million, a PE ratio of 10.38 and a beta of 0.50. The company’s 50 day moving average price is $31.87 and its 200-day moving average price is $29.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.89 and a current ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. The business had revenue of $25.82 million for the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.43%.

First Bancorp, Inc (ME) Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, July 7th were paid a dividend of $0.38 per share. This is a positive change from First Bancorp, Inc (ME)’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, July 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.3%. First Bancorp, Inc (ME)’s dividend payout ratio is presently 45.10%.

Insiders Place Their Bets

In other First Bancorp, Inc (ME) news, Director Kimberly Swan purchased 1,500 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was acquired at an average price of $28.69 per share, for a total transaction of $43,035.00. Following the purchase, the director owned 14,470 shares of the company’s stock, valued at approximately $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 this link. Corporate insiders own 5.11% of the company’s stock.

Hedge Funds Weigh In On First Bancorp, Inc (ME)

Several large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in First Bancorp, Inc (ME) by 2,655.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 937 shares of the bank’s stock valued at $25,000 after purchasing an additional 903 shares during the period. BNP Paribas Financial Markets boosted its stake in First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after purchasing an additional 415 shares during the period. PNC Financial Services Group Inc. grew its holdings in First Bancorp, Inc (ME) by 27.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after buying an additional 435 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in First Bancorp, Inc (ME) by 540.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,528 shares of the bank’s stock valued at $64,000 after buying an additional 2,133 shares in the last quarter. Finally, CWM LLC raised its position in shares of First Bancorp, Inc (ME) by 79.9% during the fourth quarter. CWM LLC now owns 3,073 shares of the bank’s stock valued at $81,000 after buying an additional 1,365 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

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.