First Bancorp (NASDAQ:FNLC) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of First Bancorp (NASDAQ:FNLC) from a sell rating to a hold rating in a report published on Thursday morning, BidAskClub reports.

Separately, ValuEngine upgraded First Bancorp from a sell rating to a hold rating in a research report on Saturday, May 4th.

Shares of FNLC stock traded up $0.02 during mid-day trading on Thursday, reaching $25.52. The stock had a trading volume of 5,927 shares, compared to its average volume of 10,329. First Bancorp has a 12-month low of $24.49 and a 12-month high of $31.19. The firm has a market capitalization of $277.63 million, a P/E ratio of 11.09 and a beta of 0.66. The firm’s 50-day moving average is $25.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.72 and a current ratio of 0.72.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.70%. This is a boost from First Bancorp’s previous quarterly dividend of $0.29.

In related news, EVP Charles A. Wootton sold 1,053 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $26.04, for a total transaction of $27,420.12. Following the sale, the executive vice president now owns 15,621 shares of the company’s stock, valued at $406,770.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Katherine M. Boyd sold 1,697 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $25.72, for a total value of $43,646.84. Following the sale, the director now directly owns 34,773 shares in the company, valued at approximately $894,361.56. The disclosure for this sale can be found here. Company insiders own 6.69% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of First Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 737,350 shares of the bank’s stock valued at $19,392,000 after acquiring an additional 14,121 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Bancorp by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,136 shares of the bank’s stock valued at $11,628,000 after acquiring an additional 10,447 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of First Bancorp by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 100,781 shares of the bank’s stock valued at $2,650,000 after acquiring an additional 6,097 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of First Bancorp by 23.4% during the fourth quarter. Bank of America Corp DE now owns 11,398 shares of the bank’s stock valued at $300,000 after acquiring an additional 2,159 shares during the last quarter. Finally, Bar Harbor Trust Services acquired a new stake in shares of First Bancorp during the first quarter valued at $209,000. 32.81% of the stock is currently owned by institutional investors and hedge funds.

First Bancorp Company Profile

The First Bancorp, Inc operates as the holding company for First National Bank that provides a range of banking products and services to individual and corporate customers. The company offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts.

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