First Bancorp, Inc (ME) (NASDAQ:FNLC) Share Price Passes Above 200 Day Moving Average - Here's What Happened

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 $25.00 and traded as high as $26.03. First Bancorp, Inc (ME) shares last traded at $26.01, with a volume of 20,376 shares.

First Bancorp, Inc (ME) Stock Performance

The company has a 50-day moving average of $25.14 and a 200 day moving average of $25.01. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $276.24 million, a PE ratio of 9.19 and a beta of 0.54.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The bank reported $0.72 EPS for the quarter. First Bancorp, Inc (ME) had a return on equity of 11.70% and a net margin of 17.39%. The business had revenue of $22.54 million during the quarter.

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Tuesday, July 8th were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, July 8th. This is a positive change from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 6.0%. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is presently 55.22%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in First Bancorp, Inc (ME) by 13,325.5% during the first 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. JPMorgan Chase & Co. lifted its stake in First Bancorp, Inc (ME) by 75.0% during the fourth quarter. JPMorgan Chase & Co. now owns 39,121 shares of the bank's stock worth $1,070,000 after purchasing an additional 16,767 shares during the last quarter. Bank of America Corp DE lifted its stake in First Bancorp, Inc (ME) by 29.5% during the fourth 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. Northern Trust Corp lifted its stake in First Bancorp, Inc (ME) by 5.1% during the fourth 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. Finally, Dimensional Fund Advisors LP lifted its stake in First Bancorp, Inc (ME) by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 473,481 shares of the bank's stock worth $12,949,000 after purchasing an additional 1,525 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

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.