First Bancorp (FNLC) Rating Increased to Hold at BidaskClub

First Bancorp (NASDAQ:FNLC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Shares of First Bancorp stock opened at $29.30 on Friday. The firm has a market cap of $314.46 million, a P/E ratio of 14.71 and a beta of 0.69. First Bancorp has a 12 month low of $26.35 and a 12 month high of $32.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 0.75.

First Bancorp (NASDAQ:FNLC) last issued its quarterly earnings results on Wednesday, July 18th. The bank reported $0.53 EPS for the quarter. The business had revenue of $15.45 million for the quarter. First Bancorp had a return on equity of 11.74% and a net margin of 27.31%.

In related news, EVP Steven Parady sold 1,000 shares of First Bancorp stock in a transaction on Friday, July 27th. The stock was sold at an average price of $30.48, for a total transaction of $30,480.00. Following the sale, the executive vice president now directly owns 49,109 shares in the company, valued at $1,496,842.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Susan A. Norton sold 3,000 shares of First Bancorp stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $30.29, for a total value of $90,870.00. Following the sale, the executive vice president now owns 18,104 shares in the company, valued at $548,370.16. The disclosure for this sale can be found here. Company insiders own 7.23% of the company’s stock.

A number of institutional investors have recently modified their holdings of FNLC. FineMark National Bank & Trust bought a new stake in First Bancorp during the second quarter worth $490,000. Schwab Charles Investment Management Inc. lifted its holdings in First Bancorp by 15.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 21,114 shares of the bank’s stock worth $596,000 after acquiring an additional 2,818 shares during the period. ProVise Management Group LLC bought a new stake in First Bancorp during the second quarter worth $869,000. California Public Employees Retirement System lifted its holdings 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 worth $1,024,000 after acquiring an additional 2,132 shares during the period. Finally, Northern Trust Corp lifted its holdings in First Bancorp by 3.6% during the second quarter. Northern Trust Corp now owns 124,408 shares of the bank’s stock worth $3,511,000 after acquiring an additional 4,340 shares during the period. Institutional investors and hedge funds own 32.92% 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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