First Bancorp (NYSE:FBP) Holdings Decreased by Point72 Asset Management L.P.

Point72 Asset Management L.P. reduced its position in shares of First Bancorp (NYSE:FBP) by 58.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,364,400 shares of the bank’s stock after selling 1,924,776 shares during the quarter. Point72 Asset Management L.P.’s holdings in First Bancorp were worth $14,449,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its holdings in First Bancorp by 15.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 8,564 shares of the bank’s stock worth $91,000 after purchasing an additional 1,126 shares during the period. Sciencast Management LP acquired a new position in shares of First Bancorp in the 4th quarter valued at about $106,000. Virtu Financial LLC acquired a new position in shares of First Bancorp in the 4th quarter valued at about $110,000. Guggenheim Capital LLC bought a new stake in shares of First Bancorp during the 4th quarter valued at about $115,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Bancorp by 13.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,018 shares of the bank’s stock valued at $148,000 after buying an additional 1,634 shares during the last quarter. 92.96% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FBP traded up $0.58 during midday trading on Thursday, reaching $5.02. 3,394,161 shares of the company traded hands, compared to its average volume of 1,958,882. The firm has a market capitalization of $973.77 million, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 0.26 and a beta of 1.50. The company has a fifty day moving average price of $7.44 and a 200 day moving average price of $9.57. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.99 and a quick ratio of 0.99. First Bancorp has a twelve month low of $3.50 and a twelve month high of $11.94.

First Bancorp (NYSE:FBP) last issued its earnings results on Tuesday, January 28th. The bank reported $0.19 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The firm had revenue of $164.33 million for the quarter, compared to analyst estimates of $170.70 million. First Bancorp had a return on equity of 7.71% and a net margin of 21.75%. During the same period last year, the company earned $0.20 earnings per share. On average, equities research analysts forecast that First Bancorp will post 0.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 28th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.20 annualized dividend and a dividend yield of 3.98%. First Bancorp’s dividend payout ratio is currently 26.67%.

Several equities research analysts recently weighed in on FBP shares. Zacks Investment Research lowered shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. Citigroup decreased their target price on First Bancorp from $11.00 to $4.50 and set a “neutral” rating for the company in a research note on Tuesday. Finally, ValuEngine raised First Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 15th.

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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Institutional Ownership by Quarter for First Bancorp (NYSE:FBP)

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