First Bancorp (NASDAQ:FNLC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

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 debt-to-equity ratio of 0.37, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $315.60 million, a price-to-earnings ratio of 11.94 and a beta of 0.58. The firm has a fifty day moving average price of $27.67 and a 200 day moving average price of $26.20.

First Bancorp Announces Dividend

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

Institutional Trading of First Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of First Bancorp by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 16,029 shares of the bank’s stock worth $398,000 after acquiring an additional 1,142 shares during the period. Rise Advisors LLC purchased a new position in First Bancorp during the third quarter worth approximately $37,000. Geode Capital Management LLC boosted its holdings 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 valued at $5,940,000 after purchasing an additional 1,599 shares during the last quarter. State Street Corp boosted its holdings 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 during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of First Bancorp during the 3rd quarter valued at $104,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

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.