Point72 Asset Management L.P. Trims Holdings in First Bancorp (NYSE:FBP)

Point72 Asset Management L.P. reduced its position in shares of First Bancorp (NYSE:FBP) by 58.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,364,400 shares of the bank’s stock after selling 1,924,776 shares during the period. Point72 Asset Management L.P. owned 0.63% of First Bancorp worth $14,449,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Trust Advisors LP raised its position in shares of First Bancorp by 69.9% in the first quarter. First Trust Advisors LP now owns 99,743 shares of the bank’s stock valued at $1,143,000 after buying an additional 41,052 shares during the last quarter. Voya Investment Management LLC grew its stake in First Bancorp by 24.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,996,413 shares of the bank’s stock worth $19,923,000 after acquiring an additional 394,989 shares during the period. Neo Ivy Capital Management purchased a new stake in First Bancorp in the 3rd quarter worth approximately $162,000. California State Teachers Retirement System raised its holdings in First Bancorp by 1.2% in the 3rd quarter. California State Teachers Retirement System now owns 334,556 shares of the bank’s stock valued at $3,339,000 after acquiring an additional 3,996 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in First Bancorp by 101.7% in the 3rd quarter. Squarepoint Ops LLC now owns 258,422 shares of the bank’s stock valued at $2,579,000 after acquiring an additional 130,287 shares during the last quarter. 92.96% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on FBP shares. Citigroup decreased their price objective on First Bancorp from $11.00 to $4.50 and set a “neutral” rating on the stock in a report on Tuesday. ValuEngine upgraded First Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Zacks Investment Research downgraded First Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th.

Shares of FBP stock traded up $0.58 during trading hours on Thursday, hitting $5.02. 3,394,161 shares of the company were exchanged, compared to its average volume of 1,958,882. The firm has a fifty day moving average of $7.44 and a 200 day moving average of $9.57. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.34. First Bancorp has a 1 year low of $3.50 and a 1 year high of $11.94. The firm has a market cap of $973.77 million, a PE ratio of 6.61, a PEG ratio of 0.26 and a beta of 1.50.

First Bancorp (NYSE:FBP) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $164.33 million during the quarter, compared to analyst estimates of $170.70 million. First Bancorp had a net margin of 21.75% and a return on equity of 7.71%. During the same quarter in the prior year, the business posted $0.20 earnings per share. Analysts expect that First Bancorp will post 0.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 28th were paid 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 presently 26.67%.

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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