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

Key Points

• First Bancorp shares crossed above their 200-day moving average, reaching $34.38 before last trading at $33.80, compared with a 200-day average of $32.32.
• Analysts remain positive, with Weiss Ratings reiterating a “Buy” rating and MarketBeat reporting an average “Buy” consensus. The bank recently reported quarterly EPS of $0.85 and revenue of $25.82 million.
• The company announced a quarterly dividend of $0.38 per share, equivalent to an annualized $1.52 payout and a 4.5% yield; institutional investors own 40.41% of the stock.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $32.32 and traded as high as $34.38. First Bancorp, Inc (ME) shares last traded at $33.80, with a volume of 41,217 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of First Bancorp, Inc (ME) in a report on Monday, September 14th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of "Buy".

First Bancorp, Inc (ME) Stock Up 1.0%

The firm has a market cap of $381.26 million, a P/E ratio of 10.03 and a beta of 0.49. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $34.56 and a 200-day moving average price of $32.32.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.30% and a net margin of 21.43%. The firm had revenue of $25.82 million during the quarter.

First Bancorp, Inc (ME) Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, October 6th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $1.52 dividend on an annualized basis and a yield of 4.5%. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is 45.10%.

Insider Buying and Selling

In other news, EVP Sarah Tolman sold 5,200 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total value of $183,144.00. Following the completion of the sale, the executive vice president owned 2,191 shares in the company, valued at approximately $77,167.02. The trade was a 70.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.11% of the company's stock.

Institutional Investors Weigh In On First Bancorp, Inc (ME)

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in First Bancorp, Inc (ME) during the second quarter valued at approximately $31,548,000. The Manufacturers Life Insurance Company purchased a new stake in First Bancorp, Inc (ME) during the second quarter worth $13,080,000. Quantinno Capital Management LP lifted its holdings in 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 worth $1,558,000 after buying an additional 15,263 shares during the period. Bank of New York Mellon Corp bought a new stake in First Bancorp, Inc (ME) during the 2nd quarter valued at $1,719,000. Finally, Rhino Investment Partners Inc bought a new stake in First Bancorp, Inc (ME) during the 1st quarter valued at $1,362,000. Hedge funds and other institutional investors own 40.41% of the company's stock.

First Bancorp, Inc (ME) Company Profile

First Bancorp, Inc is a bank holding company headquartered in Damariscotta, Maine. Its principal subsidiary, First National Bank, provides banking and financial services to individuals, families, businesses and municipalities throughout Maine.

First National Bank offers deposit products, residential and commercial real estate lending, consumer loans, business financing and other commercial banking services. The bank also provides wealth management and investment-related services through its trust and investment operations.

First National Bank traces its history to 1852 and operates a community banking network serving customers primarily in central and coastal Maine.

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