First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• First Bancorp, Inc (ME) shares have crossed above their 200-day moving average of $24.95 during trading, reaching a high of $25.69 and last trading at $25.22.
• The company reported earnings of $0.72 per share for the last quarter and an annualized dividend of $1.48, offering a yield of 5.9% after increasing its recent quarterly dividend from $0.36 to $0.37.
• Approximately 40.41% of First Bancorp's stock is owned by hedge funds and institutional investors, with significant stakes recently acquired by firms like GAMMA Investing LLC and Martingale Asset Management.

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 $24.95 and traded as high as $25.69. First Bancorp, Inc (ME) shares last traded at $25.22, with a volume of 14,887 shares.

First Bancorp, Inc (ME) Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $289.55 million, a PE ratio of 9.64 and a beta of 0.56. The stock has a 50 day moving average price of $25.43 and a two-hundred day moving average price of $24.98.

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

First Bancorp, Inc (ME) Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Tuesday, July 8th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. First Bancorp, Inc (ME)'s payout ratio is currently 55.22%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CSM Advisors LLC acquired a new stake in First Bancorp, Inc (ME) in the 2nd quarter valued at approximately $1,738,000. Focus Partners Wealth acquired a new stake in First Bancorp, Inc (ME) in the 1st quarter valued at approximately $1,500,000. Arrowstreet Capital Limited Partnership acquired a new stake in First Bancorp, Inc (ME) in the 2nd quarter valued at approximately $729,000. Nuveen LLC acquired a new stake in First Bancorp, Inc (ME) in the 1st quarter valued at approximately $705,000. Finally, Quantinno Capital Management LP acquired a new stake in First Bancorp, Inc (ME) in the 2nd quarter valued at approximately $446,000. Institutional investors and hedge funds 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.