First Bancorp (NASDAQ:FNLC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

The First Bancorp, Inc. (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 $26.20 and traded as high as $28.71. First Bancorp shares last traded at $28.30, with a volume of 22,856 shares changing hands.

First Bancorp Stock Down 1.2 %

The company has a market capitalization of $315.60 million, a price-to-earnings ratio of 11.94 and a beta of 0.58. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average price of $27.67 and a two-hundred day moving average price of $26.20.

First Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Tuesday, October 8th were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, October 8th. This represents a $1.44 annualized dividend and a yield of 5.09%. First Bancorp’s dividend payout ratio is presently 60.76%.

Hedge Funds Weigh In On First Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in FNLC. First Bancorp Inc ME raised its holdings in First Bancorp by 0.8% in the second quarter. First Bancorp Inc ME now owns 732,959 shares of the bank’s stock valued at $18,214,000 after acquiring an additional 5,755 shares in the last quarter. Geode Capital Management LLC increased its position in shares of First Bancorp by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 225,659 shares of the bank’s stock worth $5,940,000 after purchasing an additional 1,599 shares during the last quarter. State Street Corp raised its stake in shares of First Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 214,144 shares of the bank’s stock valued at $5,636,000 after purchasing an additional 2,156 shares in the last quarter. Foundry Partners LLC grew its stake in First Bancorp by 14.9% in the third quarter. Foundry Partners LLC now owns 71,170 shares of the bank’s stock worth $1,873,000 after purchasing an additional 9,245 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in First Bancorp by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 49,663 shares of the bank’s stock valued at $1,234,000 after buying an additional 4,477 shares during the last quarter. 40.41% of the stock is currently owned by hedge funds and other institutional investors.

About First Bancorp

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.