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

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.41 and traded as high as $34.09. First Bancorp, Inc (ME) shares last traded at $33.99, with a volume of 33,054 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of First Bancorp, Inc (ME) in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, First Bancorp, Inc (ME) currently has an average rating of "Buy".

First Bancorp, Inc (ME) Stock Performance

The stock's 50-day moving average price is $31.73 and its 200-day moving average price is $29.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $383.41 million, a P/E ratio of 10.09 and a beta of 0.50.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. The business had revenue of $25.82 million during the quarter. First Bancorp, Inc (ME) had a net margin of 21.43% and a return on equity of 13.43%.

First Bancorp, Inc (ME) Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were paid a $0.38 dividend. The ex-dividend date was Tuesday, July 7th. This is an increase from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a yield of 4.5%. First Bancorp, Inc (ME)'s payout ratio is presently 46.91%.

Insider Activity at First Bancorp, Inc (ME)

In related news, Director Kimberly Swan bought 1,500 shares of the stock in a transaction dated Thursday, April 30th. The stock was bought at an average cost of $28.69 per share, with a total value of $43,035.00. Following the completion of the acquisition, the director owned 14,470 shares of the company's stock, valued at $415,144.30. This trade represents a 11.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.11% of the company's stock.

Institutional Trading of First Bancorp, Inc (ME)

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in First Bancorp, Inc (ME) by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 242,126 shares of the bank's stock valued at $6,403,000 after purchasing an additional 1,168 shares during the period. State Street Corp lifted its stake in First Bancorp, Inc (ME) by 1.4% in the fourth quarter. State Street Corp now owns 223,936 shares of the bank's stock valued at $5,921,000 after buying an additional 3,018 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in First Bancorp, Inc (ME) by 16.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 75,979 shares of the bank's stock valued at $2,009,000 after buying an additional 10,715 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of First Bancorp, Inc (ME) during the first quarter valued at $1,500,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of First Bancorp, Inc (ME) by 37.8% during the first quarter. Quantinno Capital Management LP now owns 55,599 shares of the bank's stock valued at $1,558,000 after acquiring an additional 15,263 shares during the period. Institutional investors own 40.41% of the company's stock.

First Bancorp, Inc (ME) Company Profile

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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