Is The First Bancorp, Inc. (FNLC)’s Fuel Running Low? The Stock Formed Wedge Down Chart Pattern

The First Bancorp, Inc. (NASDAQ:FNLC) Logo

Investors sentiment decreased to 1 in Q4 2018. Its down 0.33, from 1.33 in 2018Q3. It turned negative, as 1 investors sold The First Bancorp, Inc. shares while 18 reduced holdings. 3 funds opened positions while 16 raised stakes. 3.51 million shares or 1.07% more from 3.47 million shares in 2018Q3 were reported.
Blackrock owns 737,350 shares or 0% of their US portfolio. State Bank Of America De invested in 0% or 11,398 shares. Northwestern Mutual Wealth Mngmt reported 0% stake. Savings Bank Of Montreal Can accumulated 273 shares. New Jersey-based Hamel Assocs has invested 0.12% in The First Bancorp, Inc. (NASDAQ:FNLC). Bnp Paribas Arbitrage Sa invested in 0% or 347 shares. Citigroup Inc has 2,565 shares for 0% of their portfolio. Moreover, Provise Mgmt Limited Liability Corporation has 0.13% invested in The First Bancorp, Inc. (NASDAQ:FNLC). Hanson & Doremus Invest Mgmt reported 710 shares. Kimelman And Baird has 0.14% invested in The First Bancorp, Inc. (NASDAQ:FNLC). Metropolitan Life Insurance New York has invested 0% in The First Bancorp, Inc. (NASDAQ:FNLC). Finemark Natl Natl Bank has invested 0.03% in The First Bancorp, Inc. (NASDAQ:FNLC). Renaissance Ltd Liability Corporation accumulated 205,400 shares. Barclays Public Limited Co accumulated 295 shares. Alliancebernstein L P accumulated 11,179 shares.

Since November 19, 2018, it had 1 insider buy, and 1 sale for $29,390 activity. $38,597 worth of The First Bancorp, Inc. (NASDAQ:FNLC) was sold by Wootton Charles A.

The stock of The First Bancorp, Inc. (FNLC) formed a down wedge with $24.15 target or 9.00 % below today’s $26.54 share price. The 8 months wedge indicates high risk for the $288.87 million company. If the $24.15 price target is reached, the company will be worth $26.00 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.78% or $0.21 during the last trading session, reaching $26.54. About 766 shares traded. The First Bancorp, Inc. (NASDAQ:FNLC) has declined 0.89% since May 8, 2018 and is downtrending. It has underperformed by 5.26% the S&P500.

More notable recent The First Bancorp, Inc. (NASDAQ:FNLC) news were published by: Nasdaq.com which released: “Validea John Neff Strategy Daily Upgrade Report – 5/8/2019 – Nasdaq” on May 08, 2019, also Businesswire.com with their article: “The First Bancorp Announces CFO Retirement Plan – Business Wire” published on December 21, 2017, Seekingalpha.com published: “Nine Maine Stocks – Seeking Alpha” on April 12, 2010. More interesting news about The First Bancorp, Inc. (NASDAQ:FNLC) were released by: Seekingalpha.com and their article: “Dividend Champions For August 2018 – Seeking Alpha” published on August 01, 2018 as well as Gurufocus.com‘s news article titled: “Apr 26, 2019 – Private Capital Group, LLC Buys Invesco QQQ Trust Series 1, Cigna Corp, Vanguard Short-Term Corporate Bond ETF, Sells Vanguard Total Stock Market, iShares National Muni Bond, iShares MSCI EAFE – GuruFocus.com” with publication date: April 26, 2019.

The First Bancorp, Inc. operates as the holding firm for First National Bank that provides a range of banking services and products to individual and corporate customers. The company has market cap of $288.87 million. The firm offers various deposit products, including demand, NOW, savings, money market, and certificates of deposit accounts. It has a 11.9 P/E ratio. It also provides commercial loan products, such as mortgage loans to finance investments in real property comprising multi-family residential, commercial/retail, office, industrial, hotel, educational, and other specific or mixed use properties; loans to finance construction of owner- and non-owner occupied commercial real estate properties; and revolving and term loan obligations to business and corporate enterprises for the purpose of financing working capital or capital investment.

The First Bancorp, Inc. (NASDAQ:FNLC) Institutional Positions Chart

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