First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Bancorp, Inc (ME) in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, First Bancorp, Inc (ME) currently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Trading Up 0.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $396.34 million, a P/E ratio of 10.42 and a beta of 0.49. The firm’s fifty day simple moving average is $34.86 and its 200 day simple moving average is $31.44.

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

First Bancorp, Inc (ME) Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, July 7th were given 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 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

In other news, EVP Sarah Tolman sold 5,200 shares of the 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 transaction, the executive vice president owned 2,191 shares of the company’s stock, valued at approximately $77,167.02. This represents a 70.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.11% of the company’s stock.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in First Bancorp, Inc (ME) during the 2nd quarter worth approximately $274,000. Kimelman & Baird LLC acquired a new stake in First Bancorp, Inc (ME) in the second quarter valued at approximately $1,240,000. Empowered Funds LLC acquired a new stake in First Bancorp, Inc (ME) in the second quarter valued at approximately $417,000. Bank of America Corp DE bought a new stake in shares of First Bancorp, Inc (ME) during the second quarter worth $799,000. Finally, Hsbc Holdings PLC bought a new stake in shares of First Bancorp, Inc (ME) during the second quarter worth $314,000. 40.41% of the stock is owned by institutional investors.

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.