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

The First Bancorp, Inc. (NASDAQ:FNLC) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.17 and traded as high as $25.88. First Bancorp shares last traded at $25.78, with a volume of 7,410 shares changing hands.

First Bancorp Stock Performance

The stock has a 50-day moving average price of $26.43 and a 200 day moving average price of $25.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $287.19 million, a PE ratio of 10.88 and a beta of 0.56.

First Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Tuesday, October 8th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.44 dividend on an annualized basis and a yield of 5.59%. First Bancorp’s payout ratio is currently 60.76%.

Hedge Funds Weigh In On First Bancorp

Several large investors have recently added to or reduced their stakes in FNLC. BNP Paribas Financial Markets raised its holdings in shares of First Bancorp by 89.7% during the first quarter. BNP Paribas Financial Markets now owns 4,905 shares of the bank’s stock valued at $121,000 after buying an additional 2,319 shares during the last quarter. Foundry Partners LLC grew its position in First Bancorp by 32.5% in the 1st quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock valued at $1,301,000 after buying an additional 12,935 shares in the last quarter. Bright Financial Advisors Inc. acquired a new position in First Bancorp during the 1st quarter valued at about $241,000. Vanguard Group Inc. raised its position in shares of First Bancorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 492,518 shares of the bank’s stock worth $12,136,000 after buying an additional 3,535 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of First Bancorp in the 1st quarter worth approximately $214,000. 40.41% of the stock is currently owned by 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.