First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• First Bancorp shares crossed above their 200-day moving average, trading as high as $35.83 and last at $35.07, compared with a 200-day average of $31.39.
• Analysts maintain a positive outlook, with Weiss Ratings reiterating a “buy” rating and MarketBeat reporting a consensus “Buy” rating.
• The bank reported quarterly EPS of $0.85 on $25.82 million in revenue and raised its quarterly dividend to $0.38, equivalent to a 4.3% annualized yield.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.39 and traded as high as $35.83. First Bancorp, Inc (ME) shares last traded at $35.07, with a volume of 35,262 shares.

Analyst Ratings Changes

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

First Bancorp, Inc (ME) Price Performance

The firm has a 50-day moving average of $34.83 and a 200 day moving average of $31.39. The company has a market capitalization of $395.59 million, a PE ratio of 10.41 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

First Bancorp, Inc (ME) (NASDAQ:FNLC - Get Free Report) last issued its earnings results 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 return on equity of 13.30% and a net margin of 21.43%.

First Bancorp, Inc (ME) Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, July 7th were paid a $0.38 dividend. This is a boost from First Bancorp, Inc (ME)'s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, July 7th. First Bancorp, Inc (ME)'s dividend payout ratio (DPR) is presently 45.10%.

Insider Buying and Selling at First Bancorp, Inc (ME)

In related news, EVP Sarah Tolman sold 5,200 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total transaction of $183,144.00. Following the transaction, the executive vice president owned 2,191 shares in the company, valued at $77,167.02. This represents a 70.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.11% of the stock is owned by insiders.

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

Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in shares of First Bancorp, Inc (ME) during the 2nd quarter valued at $39,000. PNC Financial Services Group Inc. grew its holdings in shares of First Bancorp, Inc (ME) by 54.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,168 shares of the bank's stock worth $89,000 after acquiring an additional 1,119 shares during the period. Empowered Funds LLC grew its holdings in shares of First Bancorp, Inc (ME) by 7.0% in the first quarter. Empowered Funds LLC now owns 9,354 shares of the bank's stock worth $262,000 after acquiring an additional 608 shares during the period. Squarepoint Ops LLC bought a new stake in shares of First Bancorp, Inc (ME) in the second quarter worth $274,000. Finally, Hsbc Holdings PLC purchased a new stake in First Bancorp, Inc (ME) during the second quarter valued at $314,000. 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 community banking services to individuals, families, businesses and municipal organizations through its branch network and digital banking channels.

The bank's products and services include checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing, business loans and cash-management services.

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