First Bancorp (FNLC) Upgraded at ValuEngine

ValuEngine upgraded shares of First Bancorp (NASDAQ:FNLC) from a sell rating to a hold rating in a research report released on Tuesday.

Separately, BidaskClub raised First Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 10th.

FNLC stock traded up $0.06 on Tuesday, reaching $28.29. 9,243 shares of the company traded hands, compared to its average volume of 12,219. First Bancorp has a one year low of $25.03 and a one year high of $32.33. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.36. The firm has a market cap of $310.02 million, a PE ratio of 13.86 and a beta of 0.62.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Tuesday, October 9th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Friday, October 5th.

Hedge funds have recently bought and sold shares of the stock. FineMark National Bank & Trust bought a new position in First Bancorp during the 2nd quarter valued at approximately $490,000. Schwab Charles Investment Management Inc. increased its holdings in shares of First Bancorp by 15.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 21,114 shares of the bank’s stock worth $596,000 after purchasing an additional 2,818 shares in the last quarter. ProVise Management Group LLC bought a new stake in shares of First Bancorp in the 2nd quarter worth $869,000. California Public Employees Retirement System increased its holdings in shares of First Bancorp by 6.2% in the 2nd quarter. California Public Employees Retirement System now owns 36,295 shares of the bank’s stock worth $1,024,000 after purchasing an additional 2,132 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of First Bancorp by 3.6% in the 2nd quarter. Northern Trust Corp now owns 124,408 shares of the bank’s stock worth $3,511,000 after purchasing an additional 4,340 shares in the last quarter. 32.88% of the stock is owned by institutional investors.

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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