First Bancorp (NASDAQ:FNLC) Upgraded at ValuEngine

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First Bancorp (NASDAQ:FNLC) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, BidaskClub lowered First Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th.

Shares of NASDAQ FNLC opened at $28.36 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average price is $29.49 and its two-hundred day moving average price is $27.88. First Bancorp has a one year low of $24.19 and a one year high of $30.64. The firm has a market cap of $309.12 million, a price-to-earnings ratio of 12.07 and a beta of 0.65.

In other news, CEO Tony C. Mckim sold 7,216 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $28.11, for a total transaction of $202,841.76. Corporate insiders own 6.69% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FNLC. Bank of New York Mellon Corp grew its holdings in shares of First Bancorp by 47.2% during the 4th quarter. Bank of New York Mellon Corp now owns 91,606 shares of the bank’s stock worth $2,769,000 after purchasing an additional 29,385 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of First Bancorp during the 4th quarter worth $274,000. Renaissance Technologies LLC grew its holdings in shares of First Bancorp by 3.7% during the 4th quarter. Renaissance Technologies LLC now owns 231,106 shares of the bank’s stock worth $6,986,000 after purchasing an additional 8,305 shares in the last quarter. State Street Corp grew its holdings in shares of First Bancorp by 3.3% during the 4th quarter. State Street Corp now owns 197,183 shares of the bank’s stock worth $5,961,000 after purchasing an additional 6,259 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of First Bancorp during the 3rd quarter worth $158,000. 33.65% of the stock is currently owned by institutional investors.

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 individual and corporate customers. The company offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts.

Further Reading: Initial Coin Offerings entail a high degree of risk

To view ValuEngine’s full report, visit ValuEngine’s official website.

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