First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Passes Above 200-Day Moving Average - What's Next?

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.03 and traded as high as $26.05. First Bancorp, Inc (ME) shares last traded at $25.99, with a volume of 19,702 shares changing hands.

First Bancorp, Inc (ME) Stock Up 2.4%

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.85 and a quick ratio of 0.85. The business's 50 day moving average price is $24.85 and its 200 day moving average price is $25.03. The firm has a market cap of $300.44 million, a PE ratio of 10.69 and a beta of 0.54.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The bank reported $0.63 earnings per share for the quarter. The business had revenue of $21.80 million for the quarter. First Bancorp, Inc (ME) had a return on equity of 11.09% and a net margin of 16.60%.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th will be issued a dividend of $0.37 per share. This is a positive change from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.52%. First Bancorp, Inc (ME)'s dividend payout ratio is presently 58.96%.

Insider Transactions at First Bancorp, Inc (ME)

In related news, Director Ingrid Wilbur Kachmar bought 4,000 shares of the stock in a transaction dated Monday, April 28th. The shares were acquired at an average cost of $24.10 per share, for a total transaction of $96,400.00. Following the acquisition, the director directly owned 5,015 shares in the company, valued at approximately $120,861.50. This trade represents a 394.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Swan purchased 1,600 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $24.42 per share, with a total value of $39,072.00. Following the acquisition, the director owned 12,183 shares of the company's stock, valued at approximately $297,508.86. The trade was a 15.12% increase in their position. The disclosure for this purchase can be found here. 5.09% of the stock is owned by corporate insiders.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNLC. Focus Partners Wealth purchased a new stake in shares of First Bancorp, Inc (ME) in the first quarter valued at about $1,500,000. Nuveen LLC purchased a new stake in shares of First Bancorp, Inc (ME) in the 1st quarter valued at approximately $705,000. JPMorgan Chase & Co. increased its holdings in shares of First Bancorp, Inc (ME) by 75.0% during the 4th quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank's stock worth $1,070,000 after buying an additional 16,767 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of First Bancorp, Inc (ME) during the 1st quarter valued at approximately $398,000. Finally, Proficio Capital Partners LLC acquired a new position in First Bancorp, Inc (ME) in the fourth quarter valued at approximately $386,000. Institutional investors and hedge funds own 40.41% of the company's stock.

First Bancorp, Inc (ME) 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.