BidaskClub Lowers First Bancorp (FNLC) to Hold

First Bancorp (NASDAQ:FNLC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, ValuEngine lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd.

Shares of First Bancorp stock opened at $27.56 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.76. First Bancorp has a 1 year low of $25.03 and a 1 year high of $31.61. The firm has a market cap of $301.70 million, a P/E ratio of 13.48 and a beta of 0.61.

First Bancorp (NASDAQ:FNLC) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.55 EPS for the quarter. The company had revenue of $15.57 million for the quarter. First Bancorp had a net margin of 27.78% and a return on equity of 12.19%.

Hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its position in First Bancorp by 6.2% during the second quarter. California Public Employees Retirement System now owns 36,295 shares of the bank’s stock valued at $1,024,000 after buying an additional 2,132 shares during the period. Northern Trust Corp grew its position in First Bancorp by 3.6% during the second quarter. Northern Trust Corp now owns 124,408 shares of the bank’s stock valued at $3,511,000 after buying an additional 4,340 shares during the period. Dimensional Fund Advisors LP grew its position in First Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 426,345 shares of the bank’s stock valued at $12,032,000 after buying an additional 18,080 shares during the period. Renaissance Technologies LLC grew its position in First Bancorp by 11.1% during the second quarter. Renaissance Technologies LLC now owns 204,600 shares of the bank’s stock valued at $5,774,000 after buying an additional 20,500 shares during the period. Finally, ProVise Management Group LLC acquired a new stake in First Bancorp during the second quarter valued at $869,000. Institutional investors own 33.08% of the company’s stock.

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.

See Also: Derivative

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply