First Bancorp (FNLC) Rating Increased to Buy at BidaskClub

First Bancorp (NASDAQ:FNLC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

Separately, ValuEngine lowered First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st.

Shares of First Bancorp stock traded up $0.21 during trading on Tuesday, hitting $26.60. The stock had a trading volume of 7,392 shares, compared to its average volume of 10,013. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.34. The firm has a market cap of $285.59 million, a price-to-earnings ratio of 12.04 and a beta of 0.63. First Bancorp has a fifty-two week low of $24.49 and a fifty-two week high of $31.61.

First Bancorp (NASDAQ:FNLC) last announced its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.59 earnings per share for the quarter. The business had revenue of $16.25 million during the quarter. First Bancorp had a return on equity of 12.71% and a net margin of 28.31%.

In other news, EVP Charles A. Wootton sold 1,516 shares of the business’s stock in a transaction on Thursday, January 24th. The stock was sold at an average price of $25.46, for a total transaction of $38,597.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.69% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in FNLC. BlackRock Inc. raised its position in shares of First Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 737,350 shares of the bank’s stock worth $19,392,000 after purchasing an additional 14,121 shares during the period. Dimensional Fund Advisors LP raised its position 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 worth $11,628,000 after purchasing an additional 10,447 shares during the period. Geode Capital Management LLC raised its position 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 worth $2,650,000 after purchasing an additional 6,097 shares during the period. Renaissance Technologies LLC raised its position in shares of First Bancorp by 2.9% during the third quarter. Renaissance Technologies LLC now owns 210,500 shares of the bank’s stock worth $6,098,000 after purchasing an additional 5,900 shares during the period. Finally, Rhumbline Advisers raised its position in shares of First Bancorp by 43.6% during the fourth quarter. Rhumbline Advisers now owns 14,380 shares of the bank’s stock worth $378,000 after purchasing an additional 4,368 shares during the period. 33.10% of the stock is currently owned by institutional investors.

First Bancorp Company Profile

The First Bancorp, Inc operates as a bank. It offers demand deposits and interest and non-interest bearing time and savings deposits. The bank's deposits include jumbo deposits and retail time deposits. The company provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases.

Further Reading: What is the S&P 500 Index?

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit