The stock of First Bancorp Inc (NASDAQ:FNLC) hit a new 52-week high and has $74.44 target or 198.00% above today’s $24.98 share price. The 9 months bullish chart indicates low risk for the $265.45 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $74.44 price target is reached, the company will be worth $525.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.58% or $1.32 during the last trading session, hitting $24.98. About 27,441 shares traded hands or 204.53% up from the average. First Bancorp Inc (NASDAQ:FNLC) has risen 26.05% since April 7, 2016 and is uptrending. It has outperformed by 21.27% the S&P500.
According to Zacks Investment Research, “The FIRST BANCORP, headquartered in Damariscotta, Maine, is the holding company for The First, N.A., an independent community bank in coastal Maine. The Bank provides a full range of consumer and commercial banking products and services from fourteen offices in Lincoln, Knox, Hancock and Washington Counties. First Advisors, a division of The First, provides investment advisory, private banking and trust services from two offices in Lincoln and Hancock Counties.”
Insitutional Activity: The institutional sentiment decreased to 1.17 in Q2 2016. Its down 0.83, from 2 in 2016Q1. The ratio dived, as 0 funds sold all First Bancorp Inc shares owned while 18 reduced positions. 4 funds bought stakes while 17 increased positions. They now own 3.32 million shares or 0.54% less from 3.34 million shares in 2016Q1.
Hm Payson And holds 0.09% of its portfolio in First Bancorp Inc (NASDAQ:FNLC) for 79,204 shares. Hanson & Doremus Management owns 710 shares or 0.01% of their US portfolio. Blackrock Advsrs Lc last reported 0% of its portfolio in the stock. Teachers Advsrs accumulated 14,786 shares or 0% of the stock. Tiaa Cref Inv Mgmt Limited Liability Com has 0% invested in the company for 34,557 shares. Bank Of America De holds 86,120 shares or 0% of its portfolio. Bank Of New York Mellon owns 60,906 shares or 0% of their US portfolio. Moreover, Barclays Plc has 0% invested in First Bancorp Inc (NASDAQ:FNLC) for 38 shares. Kimelman & Baird Ltd Llc has 0.15% invested in the company for 39,149 shares. Royal State Bank Of Canada holds 0% or 33,540 shares in its portfolio. Parametric Associates Limited Liability holds 26,676 shares or 0% of its portfolio. Foundry Partners Ltd Liability has 82,350 shares for 0.1% of their US portfolio. Wells Fargo And Mn last reported 10,769 shares in the company. Banc Funds Ltd Liability Corporation last reported 0.12% of its portfolio in the stock. Jpmorgan Chase & owns 1,046 shares or 0% of their US portfolio.
Insider Transactions: Since May 24, 2016, the stock had 1 buying transaction, and 4 selling transactions for $159,395 net activity. 3,000 shares were sold by WARD F STEPHEN, worth $60,839 on Tuesday, May 24. Another trade for 1,000 shares valued at $24,000 was sold by Parady Steven. SOULE DAVID B JR sold $47,821 worth of First Bancorp Inc (NASDAQ:FNLC) on Monday, November 7. The insider SMITH STUART G bought 500 shares worth $10,920.
More recent First Bancorp Inc (NASDAQ:FNLC) news were published by: Prnewswire.com which released: “Republic First Bancorp, Inc. Reports Third Quarter Financial Results Net …” on October 24, 2016. Also Prnewswire.com published the news titled: “First West Virginia Bancorp, Inc. Announces Cash Dividend” on November 08, 2016. Prnewswire.com‘s news article titled: “First Bancorp Reports Third Quarter Results” with publication date: October 27, 2016 was also an interesting one.
FNLC Company Profile
The First Bancorp, Inc., incorporated on January 15, 1985, is the bank holding firm of First National Bank (the Bank). The Bank offers a range of financial services to individuals and companies in coastal Maine. The Company, through First Advisors, an operating division of the Bank, offers a range of private banking, financial planning, investment management and trust services to individuals, businesses, non-profit organizations and municipalities of various asset sizes. The Bank also offers automated teller machine (ATM) processing services.
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