First Bancorp, Inc (ME) (NASDAQ:FNLC) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

First Bancorp, Inc (ME) (NASDAQ:FNLC)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.27 and traded as high as $25.94. First Bancorp, Inc (ME) shares last traded at $25.38, with a volume of 38,665 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of First Bancorp, Inc (ME) in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, First Bancorp, Inc (ME) presently has a consensus rating of “Hold”.

First Bancorp, Inc (ME) Price Performance

The firm has a market cap of $284.51 million, a PE ratio of 9.47 and a beta of 0.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.86 and a quick ratio of 0.86. The business’s fifty day moving average is $26.35 and its 200-day moving average is $25.27.

First Bancorp, Inc (ME) (NASDAQ:FNLC) last released its earnings results on Wednesday, July 23rd. The bank reported $0.72 earnings per share for the quarter. First Bancorp, Inc (ME) had a net margin of 17.39% and a return on equity of 11.60%. The firm had revenue of $22.54 million for the quarter.

First Bancorp, Inc (ME) Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Monday, October 6th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, October 6th. First Bancorp, Inc (ME)’s dividend payout ratio is 55.22%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. CSM Advisors LLC purchased a new stake in First Bancorp, Inc (ME) in the 2nd quarter worth about $1,738,000. Focus Partners Wealth purchased a new position in shares of First Bancorp, Inc (ME) in the first quarter worth about $1,500,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of First Bancorp, Inc (ME) in the second quarter worth about $729,000. Nuveen LLC bought a new stake in shares of First Bancorp, Inc (ME) in the first quarter valued at approximately $705,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of First Bancorp, Inc (ME) during the 2nd quarter valued at approximately $446,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

About First Bancorp, Inc (ME)

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individuals and businesses. It offers various deposit products, including demand, NOW, time, savings, money market, and certificates of deposit accounts. The company also provides commercial loans comprising commercial real estate owner occupied, such as mortgage loans to finance investments in real property such as retail space, offices, industrial buildings, hotels, educational facilities, and other specific or mixed use properties; commercial real estate non-owner occupied loans; commercial construction to finance construction in a mix of owner- and nonowner occupied commercial real estate properties; and commercial and industrial loans, including revolving and term loan for financing working capital and/or capital investment.