Bancorp’s (NASDAQ:FNLC) first rating updated by StockNews.com
First Bancorp (NASDAQ:FNLC – Get an assessment) was upgraded by stock analysts StockNews.com from a “hold” rating to a “buy” rating in a research note to investors released Wednesday.
First Bancorp price performance
Shares of NASDAQ:FNLC traded at $0.24 on Wednesday, hitting $29.67. The company’s shares had a trading volume of 9,411 shares, compared to an average volume of 16,625. The company has a market capitalization of $327.38 million, a PE ratio of 8.53 and a beta of 0, 50. First Bancorp has a 1 year minimum of $26.97 and a 1 year maximum of $36.80. The company has a 50-day simple moving average of $30.04 and a 200-day simple moving average of $29.84.
First Bancorp (NASDAQ:FNLC – Get Rating) last reported quarterly earnings data on Wednesday, July 20. The bank reported earnings per share of $0.91 for the quarter. The company posted revenue of $22.78 million for the quarter. First Bancorp had a return on equity of 16.18% and a net margin of 38.63%.
Institutional investors weigh in on First Bancorp
A number of large investors have recently changed their positions in the company. BNP Paribas Arbitrage SA increased its position in First Bancorp shares by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,595 shares in the bank worth $78,000 after buying an additional 860 shares in the last quarter. Captrust Financial Advisors increased its position in First Bancorp shares by 467.6% in the second quarter. Captrust Financial Advisors now owns 1,175 shares of the bank worth $35,000 after buying 968 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in First Bancorp shares by 136.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,732 shares of the bank worth $52,000 after buying 1,000 more shares in the last quarter. Amalgamated Bank purchased a new equity stake in First Bancorp in Q1 worth approximately $38,000. Finally, UBS Group AG increased its position in First Bancorp shares by 22.9% during the first quarter. UBS Group AG now owns 6,971 shares in the bank valued at $209,000 after buying an additional 1,300 shares last quarter. 39.14% of the shares are currently held by institutional investors.
First Bancorp Company Profile
(Get a rating)
The First Bancorp, Inc operates as a holding company for First National Bank which provides a range of personal and business banking products and services. It offers various deposit products including demand, NOW, savings, money market and certificates of deposit accounts. The Company also offers commercial real estate lending products, such as mortgage loans to finance investments in real estate including multi-family residential, commercial/retail, office, industrial, hotel, educational and other special purpose properties or mixed; commercial construction loans to finance the construction of owner-occupied and non-owner occupied commercial real estate; and other commercial loans, which include revolving and term loan obligations to companies and businesses for the purpose of financing working capital or capital investment.
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