First Bancorp (NASDAQ:FNLC) Shares Pass Above 200-Day Moving Average of $24.10

The First Bancorp, Inc. (NASDAQ:FNLC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.10 and traded as high as $28.15. First Bancorp shares last traded at $27.34, with a volume of 14,204 shares trading hands.

First Bancorp Stock Down 1.0 %

The stock has a market capitalization of $304.46 million, a P/E ratio of 11.02 and a beta of 0.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $25.38 and its 200 day simple moving average is $24.10.

First Bancorp (NASDAQ:FNLC) last issued its earnings results on Wednesday, July 24th. The bank reported $0.55 earnings per share (EPS) for the quarter. First Bancorp had a net margin of 16.95% and a return on equity of 11.10%. The business had revenue of $19.23 million for the quarter.

First Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Tuesday, July 9th. This is an increase from First Bancorp’s previous quarterly dividend of $0.35. First Bancorp’s dividend payout ratio (DPR) is currently 58.06%.

Institutional Investors Weigh In On First Bancorp

A number of institutional investors have recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in First Bancorp in the second quarter worth $848,000. Foundry Partners LLC lifted its position in shares of First Bancorp by 32.5% in the 1st quarter. Foundry Partners LLC now owns 52,785 shares of the bank’s stock worth $1,301,000 after buying an additional 12,935 shares during the last quarter. Bright Financial Advisors Inc. acquired a new position in shares of First Bancorp in the 1st quarter valued at about $241,000. Quadrature Capital Ltd bought a new stake in shares of First Bancorp during the 1st quarter valued at about $214,000. Finally, First Bancorp Inc ME raised its stake in First Bancorp by 0.8% during the second quarter. First Bancorp Inc ME now owns 732,959 shares of the bank’s stock worth $18,214,000 after acquiring an additional 5,755 shares during the period. 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.