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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $26.60 and traded as high as $28.85. First Bancorp, Inc (ME) shares last traded at $28.58, with a volume of 14,406 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded First Bancorp, Inc (ME) from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Stock Performance

The stock’s 50 day simple moving average is $27.63 and its two-hundred day simple moving average is $26.60. The company has a market capitalization of $320.67 million, a P/E ratio of 9.31 and a beta of 0.59. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.87 and a quick ratio of 0.87.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 19.36% and a return on equity of 12.90%. The business had revenue of $21.81 million during the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, January 6th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Tuesday, January 6th. First Bancorp, Inc (ME)’s dividend payout ratio is 48.21%.

Institutional Trading of First Bancorp, Inc (ME)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in First Bancorp, Inc (ME) by 40.9% during the 4th quarter. Russell Investments Group Ltd. now owns 1,320 shares of the bank’s stock valued at $35,000 after purchasing an additional 383 shares during the period. BNP Paribas Financial Markets raised its stake in shares of First Bancorp, Inc (ME) by 36.6% during the second quarter. BNP Paribas Financial Markets now owns 1,548 shares of the bank’s stock worth $39,000 after buying an additional 415 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in First Bancorp, Inc (ME) by 27.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,004 shares of the bank’s stock valued at $53,000 after buying an additional 435 shares during the period. Rhumbline Advisers boosted its stake in First Bancorp, Inc (ME) by 3.9% in the second quarter. Rhumbline Advisers now owns 16,666 shares of the bank’s stock valued at $423,000 after acquiring an additional 632 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in First Bancorp, Inc (ME) by 7.9% in the fourth quarter. Empowered Funds LLC now owns 8,746 shares of the bank’s stock valued at $231,000 after acquiring an additional 642 shares during the last quarter. 40.41% of the stock is owned by institutional investors.

About First Bancorp, Inc (ME)

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.