First Bancorp (NASDAQ:FNLC) Cut to “Sell” at BidaskClub

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

Separately, ValuEngine upgraded First Bancorp from a sell rating to a hold rating in a report on Saturday, May 4th.

Shares of First Bancorp stock opened at $24.96 on Wednesday. First Bancorp has a 1 year low of $24.49 and a 1 year high of $31.61. The stock has a market capitalization of $271.54 million, a price-to-earnings ratio of 11.13 and a beta of 0.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.05.

First Bancorp (NASDAQ:FNLC) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.57 earnings per share (EPS) for the quarter. First Bancorp had a return on equity of 12.77% and a net margin of 28.13%. The company had revenue of $16.04 million during the quarter.

In other First Bancorp news, Director Katherine M. Boyd sold 1,697 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $25.72, for a total value of $43,646.84. Following the completion of the sale, the director now directly owns 34,773 shares in the company, valued at $894,361.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.69% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of FNLC. Rhumbline Advisers grew its holdings 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 buying an additional 4,368 shares in the last quarter. BlackRock Inc. boosted its position in First Bancorp by 2.0% during the fourth quarter. BlackRock Inc. now owns 737,350 shares of the bank’s stock valued at $19,392,000 after purchasing an additional 14,121 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in First Bancorp by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 442,136 shares of the bank’s stock valued at $11,628,000 after purchasing an additional 10,447 shares during the last quarter. Geode Capital Management LLC boosted its position in First Bancorp by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 100,781 shares of the bank’s stock valued at $2,650,000 after purchasing an additional 6,097 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in First Bancorp by 23.4% during the fourth quarter. Bank of America Corp DE now owns 11,398 shares of the bank’s stock valued at $300,000 after purchasing an additional 2,159 shares during the last quarter. Institutional investors and hedge funds own 32.86% of the company’s stock.

About First Bancorp

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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