A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of First Bancorp from a buy rating to a hold rating in a report on Tuesday, December 24th. Citigroup lowered shares of First Bancorp from a buy rating to a neutral rating in a report on Thursday, January 9th.
NYSE:FBP traded up $0.18 on Wednesday, reaching $10.47. The stock had a trading volume of 41,471 shares, compared to its average volume of 1,094,190. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 0.61 and a beta of 1.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.05 and a quick ratio of 1.04. The firm’s fifty day moving average is $10.53 and its two-hundred day moving average is $10.32. First Bancorp has a 12-month low of $9.14 and a 12-month high of $11.94.
Several hedge funds and other institutional investors have recently bought and sold shares of FBP. Millennium Management LLC boosted its holdings in First Bancorp by 34,175.3% in the 3rd quarter. Millennium Management LLC now owns 4,394,091 shares of the bank’s stock worth $43,853,000 after acquiring an additional 4,381,271 shares during the period. Point72 Asset Management L.P. boosted its position in shares of First Bancorp by 482.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,337,906 shares of the bank’s stock valued at $25,810,000 after purchasing an additional 1,936,181 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of First Bancorp in the 2nd quarter valued at $20,339,000. Philadelphia Financial Management of San Francisco LLC boosted its position in shares of First Bancorp by 16,987.6% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 854,381 shares of the bank’s stock valued at $8,527,000 after purchasing an additional 849,381 shares during the period. Finally, Morgan Stanley boosted its position in shares of First Bancorp by 292.1% in the 2nd quarter. Morgan Stanley now owns 987,367 shares of the bank’s stock valued at $10,901,000 after purchasing an additional 735,578 shares during the period. 89.93% of the stock is owned by institutional investors.
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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