First Bancorp (NASDAQ:FNLC) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of The First Bancorp, Inc. (NASDAQ:FNLC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $25.39 and traded as high as $29.78. First Bancorp shares last traded at $29.00, with a volume of 34,058 shares.

First Bancorp Price Performance

The firm has a market cap of $323.06 million, a P/E ratio of 12.24 and a beta of 0.56. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $26.59 and its 200-day moving average is $25.39.

First Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Tuesday, October 8th were paid a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.44 annualized dividend and a dividend yield of 4.97%. First Bancorp’s dividend payout ratio is presently 60.76%.

Institutional Investors Weigh In On First Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. WASHINGTON TRUST Co acquired a new position in First Bancorp during the 2nd quarter worth about $25,000. Rise Advisors LLC acquired a new position in First Bancorp during the 3rd quarter valued at about $37,000. SG Americas Securities LLC acquired a new position in First Bancorp during the 3rd quarter valued at about $104,000. BNP Paribas Financial Markets lifted its position in First Bancorp by 89.7% during the 1st quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after purchasing an additional 2,319 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of First Bancorp in the 1st quarter valued at about $214,000. Institutional investors and hedge funds own 40.41% of the company’s stock.

First Bancorp Company Profile

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.