Millennium Management LLC decreased its holdings in First Bancorp (NYSE:FBP) by 55.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,091,657 shares of the bank’s stock after selling 1,334,605 shares during the quarter. Millennium Management LLC’s holdings in First Bancorp were worth $5,567,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in First Bancorp by 7.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock valued at $59,974,000 after buying an additional 860,841 shares during the period. California Public Employees Retirement System increased its stake in First Bancorp by 3.0% in the 3rd quarter. California Public Employees Retirement System now owns 822,399 shares of the bank’s stock valued at $4,211,000 after buying an additional 23,999 shares during the period. Thrivent Financial For Lutherans increased its stake in First Bancorp by 3.4% in the 4th quarter. Thrivent Financial For Lutherans now owns 3,529,245 shares of the bank’s stock valued at $17,999,000 after buying an additional 115,262 shares during the period. Schwab Charles Investment Management Inc. increased its stake in First Bancorp by 7.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,130,366 shares of the bank’s stock valued at $10,908,000 after buying an additional 154,570 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in First Bancorp by 4.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,653,928 shares of the bank’s stock valued at $18,708,000 after buying an additional 163,090 shares during the period. Hedge funds and other institutional investors own 92.48% of the company’s stock.
Shares of FBP opened at $6.71 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.99 and a current ratio of 1.00. The firm has a market capitalization of $1,453.39, a price-to-earnings ratio of 13.42, a PEG ratio of 0.55 and a beta of 1.78. First Bancorp has a 1 year low of $4.48 and a 1 year high of $6.80.
First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. First Bancorp had a net margin of 9.88% and a return on equity of 5.89%. The company had revenue of $137.22 million for the quarter, compared to analysts’ expectations of $137.80 million. During the same period in the previous year, the company posted $0.11 EPS. equities research analysts expect that First Bancorp will post 0.43 EPS for the current year.
FBP has been the topic of several recent research reports. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Tuesday, January 16th. Piper Jaffray reissued a “buy” rating and issued a $8.00 price objective on shares of First Bancorp in a research note on Monday, January 29th. Finally, ValuEngine cut shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $6.63.
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About First Bancorp
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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