First Bancorp (NYSE:FBP) Trading 2.6% Higher

Shares of First Bancorp (NYSE:FBP) traded up 2.6% on Friday . The company traded as high as $11.02 and last traded at $11.13. 38,207 shares traded hands during trading, a decline of 98% from the average session volume of 1,654,662 shares. The stock had previously closed at $10.85.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine raised First Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $10.88.

The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.06 and a beta of 1.57. The firm has a fifty day simple moving average of $10.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.45.

First Bancorp (NYSE:FBP) last posted its earnings results on Wednesday, April 24th. The bank reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $162.72 million during the quarter, compared to the consensus estimate of $163.50 million. First Bancorp had a return on equity of 7.43% and a net margin of 28.97%. During the same period in the previous year, the business posted $0.15 EPS. As a group, analysts expect that First Bancorp will post 0.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, May 29th. First Bancorp’s payout ratio is 19.35%.

Several institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its holdings in shares of First Bancorp by 4.7% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,570 shares of the bank’s stock worth $203,000 after purchasing an additional 1,057 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of First Bancorp by 5.3% in the first quarter. Bank of Montreal Can now owns 22,999 shares of the bank’s stock worth $264,000 after acquiring an additional 1,156 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of First Bancorp by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,136 shares of the bank’s stock worth $964,000 after acquiring an additional 1,520 shares during the period. Mason Street Advisors LLC grew its holdings in shares of First Bancorp by 3.4% in the first quarter. Mason Street Advisors LLC now owns 69,768 shares of the bank’s stock worth $800,000 after acquiring an additional 2,304 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its holdings in shares of First Bancorp by 4.8% in the first quarter. Piedmont Investment Advisors Inc. now owns 54,595 shares of the bank’s stock worth $626,000 after acquiring an additional 2,517 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

First Bancorp Company Profile (NYSE:FBP)

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.

Featured Article: Why do company’s buyback their stock?

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.