Macquarie Group Ltd. reduced its position in shares of First Bancorp (NYSE:FBP) by 64.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,600 shares of the bank’s stock after selling 6,500 shares during the period. Macquarie Group Ltd.’s holdings in First Bancorp were worth $31,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of First Bancorp by 1.5% in the fourth quarter. BlackRock Inc. now owns 31,613,378 shares of the bank’s stock worth $271,877,000 after acquiring an additional 463,797 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of First Bancorp by 8.0% in the third quarter. Vanguard Group Inc. now owns 22,509,759 shares of the bank’s stock worth $204,838,000 after acquiring an additional 1,676,917 shares during the last quarter. Vanguard Group Inc raised its stake in shares of First Bancorp by 8.0% in the third quarter. Vanguard Group Inc now owns 22,509,759 shares of the bank’s stock worth $204,838,000 after acquiring an additional 1,676,917 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Bancorp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,362,274 shares of the bank’s stock worth $157,915,000 after acquiring an additional 190,036 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of First Bancorp by 127.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,052,922 shares of the bank’s stock worth $77,855,000 after acquiring an additional 5,073,482 shares during the last quarter. 91.50% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE FBP opened at $11.43 on Friday. First Bancorp has a 1-year low of $6.53 and a 1-year high of $11.94. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 0.96 and a beta of 1.56. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.46.
First Bancorp (NYSE:FBP) last announced its earnings results on Tuesday, January 29th. The bank reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.04. The company had revenue of $158.23 million during the quarter, compared to the consensus estimate of $158.30 million. First Bancorp had a net margin of 28.13% and a return on equity of 7.36%. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, equities research analysts anticipate that First Bancorp will post 0.76 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. First Bancorp currently has an average rating of “Buy” and an average price target of $10.50.
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First Bancorp Company Profile
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in 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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