First Bancorp, Inc (ME) (NASDAQ:FNLC) Given Hold (C+) Rating at Weiss Ratings

Key Points

• First Bancorp, Inc (ME) has been given a "hold (C+)" rating by Weiss Ratings, indicating a neutral stance on the stock's performance.
• The company's stock is currently priced at $25.03, showing minor fluctuations with a one-year high of $31.05 and a low of $22.11.
• First Bancorp, Inc reported $0.72 earnings per share for its last quarterly earnings, with a net margin of 17.39% and a return on equity of 11.60%.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

First Bancorp, Inc (ME) Stock Down 0.0%

Shares of NASDAQ:FNLC opened at $25.03 on Wednesday. The company has a 50 day moving average of $26.33 and a 200-day moving average of $25.26. First Bancorp, Inc has a one year low of $22.11 and a one year high of $31.05. The stock has a market cap of $280.59 million, a price-to-earnings ratio of 9.34 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.86 and a quick ratio of 0.86.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.72 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 17.39% and a return on equity of 11.60%. The business had revenue of $22.54 million for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of First Bancorp, Inc (ME) by 13,325.5% in the first quarter. GAMMA Investing LLC now owns 6,847 shares of the bank's stock worth $169,000 after purchasing an additional 6,796 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of First Bancorp, Inc (ME) by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank's stock worth $1,332,000 after purchasing an additional 2,306 shares in the last quarter. American Century Companies Inc. lifted its position in shares of First Bancorp, Inc (ME) by 51.3% in the first quarter. American Century Companies Inc. now owns 34,190 shares of the bank's stock worth $845,000 after purchasing an additional 11,599 shares in the last quarter. Nuveen LLC acquired a new position in First Bancorp, Inc (ME) during the first quarter worth $705,000. Finally, Bank of America Corp DE increased its holdings in First Bancorp, Inc (ME) by 29.5% during the fourth quarter. Bank of America Corp DE now owns 14,935 shares of the bank's stock worth $408,000 after buying an additional 3,401 shares during the last quarter. Institutional investors own 40.41% of the company's stock.

About First Bancorp, Inc (ME)

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.

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