First Bancorp (NYSE:FBP) Holdings Lowered by Barclays PLC

Barclays PLC decreased its stake in First Bancorp (NYSE:FBP) by 26.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 255,169 shares of the bank’s stock after selling 89,737 shares during the quarter. Barclays PLC’s holdings in First Bancorp were worth $2,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FBP. North Star Investment Management Corp. acquired a new stake in First Bancorp during the 3rd quarter worth about $27,000. FNY Investment Advisers LLC acquired a new position in shares of First Bancorp in the third quarter worth about $29,000. Macquarie Group Ltd. acquired a new position in shares of First Bancorp in the second quarter worth about $95,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of First Bancorp in the third quarter worth approximately $109,000. Finally, Stevens Capital Management LP purchased a new position in shares of First Bancorp in the second quarter worth approximately $136,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on FBP shares. ValuEngine downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Zacks Investment Research upgraded shares of First Bancorp from a “sell” rating to a “hold” rating and set a $12.00 price objective on the stock in a research report on Thursday, October 24th.

Shares of First Bancorp stock opened at $10.25 on Wednesday. First Bancorp has a 12 month low of $7.91 and a 12 month high of $11.94. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.28 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.74 and a beta of 1.55. The business has a fifty day simple moving average of $10.51 and a 200-day simple moving average of $10.24.

First Bancorp (NYSE:FBP) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $165.83 million for the quarter, compared to analyst estimates of $171.90 million. First Bancorp had a return on equity of 7.93% and a net margin of 30.46%. During the same period in the previous year, the firm earned $0.16 earnings per share. Analysts expect that First Bancorp will post 0.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.95%. The ex-dividend date is Wednesday, November 27th. This is a boost from First Bancorp’s previous quarterly dividend of $0.03. First Bancorp’s payout ratio is 32.26%.

About First Bancorp

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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