BidaskClub Lowers First Bancorp (FNLC) to Hold
BidaskClub downgraded shares of First Bancorp (NASDAQ:FNLC) from a buy rating to a hold rating in a report issued on Wednesday.
Separately, ValuEngine lowered First Bancorp from a hold rating to a sell rating in a research note on Tuesday, October 23rd.
Shares of First Bancorp stock opened at $27.88 on Wednesday. First Bancorp has a 12 month low of $25.03 and a 12 month high of $31.61. The company has a market cap of $299.31 million, a P/E ratio of 13.38 and a beta of 0.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.76.
A number of institutional investors have recently made changes to their positions in FNLC. ProVise Management Group LLC bought a new position in First Bancorp during the second quarter valued at approximately $869,000. BlackRock Inc. lifted its stake in shares of First Bancorp by 3.8% in the 2nd quarter. BlackRock Inc. now owns 716,738 shares of the bank’s stock valued at $20,226,000 after purchasing an additional 26,362 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of First Bancorp by 11.1% in the 2nd quarter. Renaissance Technologies LLC now owns 204,600 shares of the bank’s stock valued at $5,774,000 after purchasing an additional 20,500 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 426,345 shares of the bank’s stock valued at $12,032,000 after purchasing an additional 18,080 shares during the last quarter. Finally, FineMark National Bank & Trust bought a new stake in shares of First Bancorp in the 2nd quarter valued at approximately $490,000. 33.08% of the stock is owned by institutional investors.
First Bancorp Company Profile
The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. The company offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts.
Further Reading: Balance Sheet
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