First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• First Bancorp, Inc (ME) (NASDAQ:FNLC) has seen its share price surpass the 200-day moving average, indicating potential positive momentum, with the stock currently trading at $26.79.
• The company recently announced an increase in its quarterly dividend from $0.36 to $0.37, reflecting a dividend yield of 5.5% and a payout ratio of 55.22%.
• Notable institutional investments include a 540.0% increase in holdings by Tower Research Capital LLC, indicating growing interest in First Bancorp among institutional investors.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.15 and traded as high as $27.39. First Bancorp, Inc (ME) shares last traded at $26.79, with a volume of 28,174 shares traded.

First Bancorp, Inc (ME) Stock Down 3.1%

The stock has a market cap of $298.97 million, a P/E ratio of 9.95 and a beta of 0.56. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The firm's fifty day moving average is $26.33 and its 200 day moving average is $25.16.

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

First Bancorp, Inc (ME) Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Tuesday, July 8th were given a $0.37 dividend. The ex-dividend date was Tuesday, July 8th. This represents a $1.48 annualized dividend and a yield of 5.5%. This is a positive change from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is 55.22%.

Institutional Trading of First Bancorp, Inc (ME)

Several hedge funds and other institutional investors have recently bought and sold shares of FNLC. Northern Trust Corp grew its position in First Bancorp, Inc (ME) by 5.1% in the 4th quarter. Northern Trust Corp now owns 94,658 shares of the bank's stock worth $2,589,000 after purchasing an additional 4,567 shares during the last quarter. Bank of America Corp DE grew its position in First Bancorp, Inc (ME) by 29.5% in the 4th quarter. Bank of America Corp DE now owns 14,935 shares of the bank's stock worth $408,000 after purchasing an additional 3,401 shares during the last quarter. Deutsche Bank AG grew its position in First Bancorp, Inc (ME) by 73.5% in the 4th quarter. Deutsche Bank AG now owns 10,557 shares of the bank's stock worth $289,000 after purchasing an additional 4,472 shares during the last quarter. GAMMA Investing LLC grew its position in First Bancorp, Inc (ME) by 13,325.5% in the 1st quarter. GAMMA Investing LLC now owns 6,847 shares of the bank's stock worth $169,000 after purchasing an additional 6,796 shares during the last quarter. Finally, Naples Global Advisors LLC grew its position in First Bancorp, Inc (ME) by 2.8% in the 1st quarter. Naples Global Advisors LLC now owns 17,817 shares of the bank's stock worth $440,000 after purchasing an additional 485 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors and hedge funds.

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.