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

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.96 and traded as high as $35.99. First Bancorp, Inc (ME) shares last traded at $35.39, with a volume of 22,013 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 Thursday, June 18th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

First Bancorp, Inc (ME) Stock Performance

The company has a market capitalization of $399.09 million, a price-to-earnings ratio of 10.50 and a beta of 0.50. The stock has a 50-day moving average price of $33.19 and a 200-day moving average price of $30.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.89 and a quick ratio of 0.89.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.85 earnings per share for the quarter. First Bancorp, Inc (ME) had a return on equity of 13.43% and a net margin of 21.43%.The business had revenue of $25.82 million for the quarter.

First Bancorp, Inc (ME) Increases Dividend

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

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

In other news, EVP Sarah Tolman sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $35.22, for a total transaction of $183,144.00. Following the completion of the sale, the executive vice president owned 2,191 shares in the company, valued at approximately $77,167.02. This trade represents a 70.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FNLC. Rhino Investment Partners Inc bought a new position in shares of First Bancorp, Inc (ME) during the first quarter worth approximately $1,362,000. Deutsche Bank AG acquired a new position in First Bancorp, Inc (ME) in the 2nd quarter valued at $52,704,000. State of Wyoming acquired a new position in First Bancorp, Inc (ME) in the 2nd quarter valued at $175,000. GSA Capital Partners LLP bought a new position in First Bancorp, Inc (ME) during the 2nd quarter worth $383,000. Finally, Empowered Funds LLC increased its position in First Bancorp, Inc (ME) by 7.0% during the 1st quarter. Empowered Funds LLC now owns 9,354 shares of the bank’s stock worth $262,000 after buying an additional 608 shares during the period. 40.41% of the stock is owned by institutional investors.

First Bancorp, Inc (ME) Company Profile

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.