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.
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.
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