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

ValuEngine upgraded shares of First Bancorp (NASDAQ:FNLC) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, BidaskClub lowered First Bancorp from a hold rating to a sell rating in a research note on Wednesday, February 5th.

Shares of NASDAQ FNLC traded down $0.14 during trading hours on Thursday, reaching $28.36. The stock had a trading volume of 6,944 shares, compared to its average volume of 9,259. The business’s fifty day moving average is $29.52 and its two-hundred day moving average is $27.86. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $310.65 million, a price-to-earnings ratio of 12.07 and a beta of 0.65. First Bancorp has a twelve month low of $24.19 and a twelve month high of $30.64.

The business also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, January 7th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Monday, January 6th.

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

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in shares of First Bancorp by 39.2% during the fourth quarter. Bank of Montreal Can now owns 1,441 shares of the bank’s stock worth $43,000 after purchasing an additional 406 shares during the last quarter. Great Diamond Partners LLC bought a new stake in shares of First Bancorp during the fourth quarter worth $46,000. Citigroup Inc. grew its holdings in shares of First Bancorp by 83.0% during the fourth quarter. Citigroup Inc. now owns 2,565 shares of the bank’s stock worth $78,000 after purchasing an additional 1,163 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of First Bancorp during the third quarter worth $158,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of First Bancorp during the fourth quarter worth $274,000. Hedge funds and other institutional investors own 33.65% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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