The stock of First Bancorp Inc (NASDAQ:FNLC) gapped down by $0.02 today and has $20.48 target or 12.00% below today’s $23.27 share price. The 7 months technical chart setup indicates high risk for the $252.67M company. The gap down was reported on Oct, 4 by Barchart.com. If the $20.48 price target is reached, the company will be worth $30.32 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.98% or $0.47 during the last trading session, hitting $23.27. About 13,836 shares traded hands or 9.12% up from the average. First Bancorp Inc (NASDAQ:FNLC) has risen 22.09% since March 1, 2016 and is uptrending. It has outperformed by 9.87% the S&P500.
Analysts await First Bancorp Inc (NASDAQ:FNLC) to report earnings on October, 19.
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 fall, 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.
Renaissance Technology Ltd Llc holds 0.01% or 133,700 shares in its portfolio. Moreover, Hanson Doremus Inv Mngmt has 0.01% invested in First Bancorp Inc (NASDAQ:FNLC) for 710 shares. New York State Common Retirement Fund holds 0% of its portfolio in First Bancorp Inc (NASDAQ:FNLC) for 9,800 shares. California Public Employees Retirement Systems reported 34,163 shares or 0% of all its holdings. Teachers Advsrs Inc holds 14,786 shares or 0% of its portfolio. Lsv Asset Mgmt holds 0.01% or 131,962 shares in its portfolio. Northern owns 115,266 shares or 0% of their US portfolio. Deutsche National Bank & Trust Ag owns 17,590 shares or 0% of their US portfolio. Deprince Race Zollo Inc has 128,845 shares for 0.06% of their US portfolio. California State Teachers Retirement Sys last reported 21,353 shares in the company. Kimelman And Baird Limited Company owns 39,149 shares or 0.15% of their US portfolio. Blackrock Invest Mngmt Ltd Llc holds 42,769 shares or 0% of its portfolio. Bridgeway Capital Mgmt last reported 80,460 shares in the company. Creative Planning owns 1,396 shares or 0% of their US portfolio. Fincl Bank Of America De last reported 0% of its portfolio in the stock.
Insider Transactions: Since May 24, 2016, the stock had 1 buying transaction, and 2 sales for $87,574 net activity. 500 shares were bought by SMITH STUART G, worth $10,920 on Friday, August 5. $60,839 worth of shares were sold by WARD F STEPHEN on Tuesday, May 24.
More recent First Bancorp Inc (NASDAQ:FNLC) news were published by: Nasdaq.com which released: “First Bancorp, Inc (ME) (FNLC) Ex-Dividend Date Scheduled for October 03, 2016” on September 30, 2016. Also Reuters.com published the news titled: “BRIEF-First Midwest Bancorp Inc-entered into a loan agreement providing for a …” on October 03, 2016. Reuters.com‘s news article titled: “BRIEF-First Midwest Bancorp Inc-entered into a loan agreement providing fo…” with publication date: October 03, 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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