First Bancorp, Inc (ME) (NASDAQ:FNLC) Shares Pass Above 200-Day Moving Average – What’s Next?

First Bancorp, Inc (ME) (NASDAQ:FNLC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.72 and traded as high as $28.00. First Bancorp, Inc (ME) shares last traded at $27.47, with a volume of 18,322 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 equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, First Bancorp, Inc (ME) presently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Stock Up 0.8%

The firm has a market cap of $305.76 million, a PE ratio of 8.84 and a beta of 0.58. The company has a 50-day simple moving average of $27.87 and a 200-day simple moving average of $26.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.88.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, January 21st. The bank reported $0.91 earnings per share (EPS) for the quarter. First Bancorp, Inc (ME) had a return on equity of 12.70% and a net margin of 19.36%.The firm had revenue of $21.81 million during the quarter.

Institutional Trading of First Bancorp, Inc (ME)

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of First Bancorp, Inc (ME) by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 53,879 shares of the bank’s stock worth $1,332,000 after purchasing an additional 2,306 shares during the last quarter. Jane Street Group LLC bought a new position in First Bancorp, Inc (ME) in the 1st quarter worth about $398,000. Focus Partners Wealth bought a new position in First Bancorp, Inc (ME) in the 1st quarter worth about $1,500,000. Strs Ohio purchased a new position in shares of First Bancorp, Inc (ME) during the first quarter worth approximately $96,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of First Bancorp, Inc (ME) by 16.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,827 shares of the bank’s stock worth $605,000 after acquiring an additional 3,283 shares during the period. 40.41% of the stock is owned by hedge funds and other 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.