The stock of First Bancorp Inc (NASDAQ:FNLC) reached all time high today, Nov, 24 and still has $30.65 target or 5.00% above today’s $29.19 share price. This indicates more upside for the $326.20M company. This technical setup was reported by Barchart.com. If the $30.65 PT is reached, the company will be worth $16.31 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.10% or $0.03 on November 23, hitting $29.19. About 19,147 shares traded hands or 55.17% up from the average. First Bancorp Inc (NASDAQ:FNLC) has risen 49.85% since April 22, 2016 and is uptrending. It has outperformed by 44.44% the S&P500.
Analysts await First Bancorp Inc (NASDAQ:FNLC) to report earnings on January, 18.
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 increased to 1.6 in Q2 2016. Its up 0.43, from 1.17 in 2016Q1. The ratio increased, 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.
Cap Guardian Commerce holds 34,000 shares or 0.01% of its portfolio. California State Teachers Retirement Sys has 0% invested in the company for 21,353 shares. Deutsche Commercial Bank Ag holds 0% of its portfolio in First Bancorp Inc (NASDAQ:FNLC) for 17,590 shares. Nationwide Fund Advsr reported 8,325 shares or 0% of all its holdings. Legal & General Plc holds 0% or 1,600 shares in its portfolio. State Common Retirement Fund accumulated 0% or 9,800 shares. Schwab Charles Mngmt last reported 18,296 shares in the company. Dimensional Fund Advsrs Lp reported 309,188 shares or 0% of all its holdings. Hanson Doremus Investment holds 0.01% or 710 shares in its portfolio. Bankshares Of America De last reported 86,120 shares in the company. Wells Fargo And Mn last reported 0% of its portfolio in the stock. Bank Of Mellon Corp holds 0% of its portfolio in First Bancorp Inc (NASDAQ:FNLC) for 60,906 shares. Strs Ohio last reported 0% of its portfolio in the stock. Stifel Corp has 0% invested in the company for 20,000 shares. The Ontario – Canada-based Retail Bank Of Montreal Can has invested 0% in First Bancorp Inc (NASDAQ:FNLC).
Insider Transactions: Since August 5, 2016, the stock had 1 buy, and 3 selling transactions for $98,556 net activity. On Friday, August 5 SMITH STUART G bought $10,920 worth of the stock or 500 shares. $37,655 worth of shares were sold by WARD F STEPHEN on Monday, August 29. 1,000 shares were sold by Parady Steven, worth $24,000 on Tuesday, October 25. Another trade for 2,000 shares valued at $47,821 was made by SOULE DAVID B JR on Monday, November 7.
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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