First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• First Bancorp (NASDAQ:FNLC) shares crossed above their 200-day moving average of $26.80, trading as high as $29.45 and last at $28.75 on volume of 58,198.
• Weiss Ratings upgraded the stock from "hold (c+)" to "buy (b-)" on Feb. 4 and MarketBeat shows an average analyst rating of Buy; the stock trades at a P/E of 9.36 with a market cap near $324 million.
• The company declared a quarterly dividend of $0.37 (ex-dividend Apr. 7), equal to a $1.48 annualized payout and a 5.1% yield with a payout ratio around 48%.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.80 and traded as high as $29.45. First Bancorp, Inc (ME) shares last traded at $28.75, with a volume of 58,198 shares traded.

Wall Street Analyst Weigh In

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

First Bancorp, Inc (ME) Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $324.01 million, a price-to-earnings ratio of 9.36 and a beta of 0.52. The company has a 50-day moving average of $28.15 and a 200-day moving average of $26.80.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a return on equity of 12.70% and a net margin of 19.36%.The firm had revenue of $21.81 million during the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Tuesday, April 7th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, April 7th. This represents a $1.48 annualized dividend and a yield of 5.1%. First Bancorp, Inc (ME)'s payout ratio is 48.21%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in First Bancorp, Inc (ME) by 40.9% in the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank's stock valued at $35,000 after acquiring an additional 383 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in First Bancorp, Inc (ME) by 36.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank's stock valued at $39,000 after acquiring an additional 415 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in First Bancorp, Inc (ME) by 27.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank's stock valued at $53,000 after acquiring an additional 435 shares during the last quarter. Rhumbline Advisers raised its holdings in First Bancorp, Inc (ME) by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 16,666 shares of the bank's stock valued at $423,000 after acquiring an additional 632 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in First Bancorp, Inc (ME) by 7.9% in the 4th quarter. Empowered Funds LLC now owns 8,746 shares of the bank's stock valued at $231,000 after acquiring an additional 642 shares during the last quarter. 40.41% of the stock is currently owned by institutional investors and hedge funds.

About First Bancorp, Inc (ME)

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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