The First Bancorp Inc/ME (NASDAQ: FNLC) has reported earnings for its first fiscal quarter (ending March 31) of $0.55 versus $0.73 for the same period a year ago. E.P.S. were $2.50 for the latest four quarters through March 31 versus $3.40 for the same period a year ago.
Recent Price Action
The First Bancorp Inc/ME (NASDAQ: FNLC) stock closed at $22.24 on 4/17/24 after a modest gain of 1.0%. However, this advance was accompanied by below average trading volume at 68% of normal. Relative to the market the stock has been weak over the last nine months and has declined -5.6% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, FNLC is expected to continue to be a Value Builder.
First Bancorp has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. First Bancorp has a slightly positive Appreciation Score of 66 and a neutral Power Rating of 48, triggering the Neutral Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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