First Bancorp (FNLC) Lowered to Hold at BidaskClub

First Bancorp (NASDAQ:FNLC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

Shares of First Bancorp opened at $28.76 on Friday, Marketbeat Ratings reports. First Bancorp has a 1 year low of $25.00 and a 1 year high of $32.33. The stock has a market cap of $322.45 million, a P/E ratio of 15.73 and a beta of 0.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.63.

First Bancorp (NASDAQ:FNLC) last announced its earnings results on Wednesday, April 18th. The bank reported $0.51 earnings per share (EPS) for the quarter. First Bancorp had a return on equity of 11.36% and a net margin of 27.05%. The company had revenue of $15.54 million for the quarter.

Large investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC acquired a new position in First Bancorp during the 4th quarter valued at about $145,000. Hamel Associates Inc. increased its position in First Bancorp by 36.9% during the 1st quarter. Hamel Associates Inc. now owns 19,950 shares of the bank’s stock valued at $558,000 after buying an additional 5,375 shares in the last quarter. Deutsche Bank AG increased its position in First Bancorp by 137.1% during the 4th quarter. Deutsche Bank AG now owns 23,531 shares of the bank’s stock valued at $638,000 after buying an additional 13,607 shares in the last quarter. Wells Fargo & Company MN increased its position in First Bancorp by 21.7% during the 4th quarter. Wells Fargo & Company MN now owns 24,938 shares of the bank’s stock valued at $678,000 after buying an additional 4,449 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in First Bancorp by 3.6% during the 4th quarter. Renaissance Technologies LLC now owns 174,400 shares of the bank’s stock valued at $4,749,000 after buying an additional 6,100 shares in the last quarter. 31.84% of the stock is currently 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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