First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• FNLC passed above its 200‑day moving average, trading as high as $29.20 versus a 200‑day MA of $27.07 and last at $29.05, a bullish technical signal for the stock.
• Weiss Ratings upgraded First Bancorp from "hold (c+)" to "buy (b-)" and the stock currently carries a consensus "Buy" rating.
• First Bancorp pays a quarterly dividend of $0.37 ($1.48 annual) for a 5.1% yield

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.07 and traded as high as $29.20. First Bancorp, Inc (ME) shares last traded at $29.05, with a volume of 9,004 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded First Bancorp, Inc (ME) from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

First Bancorp, Inc (ME) Stock Down 0.2%

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average price of $28.32 and a two-hundred day moving average price of $27.07. The company has a market capitalization of $327.39 million, a price-to-earnings ratio of 8.97 and a beta of 0.52.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $45.83 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.23% and a net margin of 20.34%.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Tuesday, April 7th were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, April 7th. This represents a $1.48 dividend on an annualized basis and a yield of 5.1%. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is presently 45.68%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TrueMark Investments LLC acquired a new stake in First Bancorp, Inc (ME) during the third quarter worth approximately $575,000. CWM LLC lifted its position in First Bancorp, Inc (ME) by 226.6% during the third quarter. CWM LLC now owns 1,708 shares of the bank's stock worth $45,000 after acquiring an additional 1,185 shares during the last quarter. First Bancorp Inc ME lifted its position in First Bancorp, Inc (ME) by 1.6% during the third quarter. First Bancorp Inc ME now owns 748,982 shares of the bank's stock worth $19,668,000 after acquiring an additional 11,477 shares during the last quarter. Naples Global Advisors LLC lifted its position in First Bancorp, Inc (ME) by 5.8% during the fourth quarter. Naples Global Advisors LLC now owns 19,017 shares of the bank's stock worth $503,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in First Bancorp, Inc (ME) by 41.0% during the fourth quarter. Apollon Wealth Management LLC now owns 21,336 shares of the bank's stock worth $564,000 after acquiring an additional 6,199 shares during the last quarter. Institutional investors own 40.41% of the company's stock.

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.

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