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Wednesday, January 27, 2021

The First Bancorp Inc. (NASDAQ:FNLC) is Gaining Momentum on Earnings Catalyst

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The The First Bancorp Inc. (FNLC) shares are trading at higher $20.23.

To add more color to this target, the company’s high over the last year is $30.64 and the low is $17.62. Over the last 52 weeks, FNLC is down -33.98% while the S&P 500 is up 1.07%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FNLC reported a profit of $14.92 million. The First Bancorp Inc. also saw revenues increase to $20.69 million. In addition, FNLC has free cash flow of $2.46 million as of 03-2020.

FNLC booked profit margins of 32.30%, its Return on Equity (ROE) is 12.30%, and its Return on Assets is 1.30%. All told, it is clear that, FNLC needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FNLC has a short ratio of 6.12 and outstanding shares of 10.85M.

Company Outlook

FNLC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 18680.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 2.37. Investors should also keep an eye on sector updates as FNLC has historically followed its peers on positive news.

All told, The First Bancorp Inc. FNLC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FNLC represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

The First Bancorp Inc. FNLC is now commanding a market cap of 219.50M and a float of 10.31M. FNLC is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FNLC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FNLC, either long or short, and we have not been compensated for this article.

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