First Bancorp (NASDAQ:FNLC) Downgraded by BidaskClub to “Hold”

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

Separately, ValuEngine cut First Bancorp from a hold rating to a sell rating in a research note on Thursday, October 24th.

Shares of NASDAQ:FNLC traded down $0.05 during trading on Wednesday, hitting $27.92. The company’s stock had a trading volume of 12,100 shares, compared to its average volume of 10,061. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.72 and a current ratio of 0.72. First Bancorp has a fifty-two week low of $24.19 and a fifty-two week high of $29.40. The stock’s 50-day moving average price is $27.98 and its two-hundred day moving average price is $26.37. The company has a market capitalization of $306.94 million, a PE ratio of 12.09 and a beta of 0.67.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Monday, October 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Friday, October 4th.

In related news, CEO Tony C. Mckim sold 7,216 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $28.11, for a total value of $202,841.76. Insiders own 6.69% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can raised its stake in First Bancorp by 607.2% during the second quarter. Bank of Montreal Can now owns 976 shares of the bank’s stock valued at $27,000 after buying an additional 838 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in First Bancorp during the third quarter valued at approximately $158,000. Beacon Investment Advisory Services Inc. acquired a new stake in First Bancorp during the second quarter valued at approximately $215,000. Rhumbline Advisers raised its stake in First Bancorp by 10.7% during the third quarter. Rhumbline Advisers now owns 16,421 shares of the bank’s stock valued at $451,000 after buying an additional 1,583 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in First Bancorp by 4.7% during the second quarter. Wells Fargo & Company MN now owns 17,945 shares of the bank’s stock valued at $483,000 after buying an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 33.44% 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.

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