NumerixS Investment Technologies Inc Acquires Shares of 28,200 First Bancorp (NYSE:FBP)

NumerixS Investment Technologies Inc acquired a new position in shares of First Bancorp (NYSE:FBP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 28,200 shares of the bank’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of First Bancorp by 1.5% during the fourth quarter. BlackRock Inc. now owns 31,613,378 shares of the bank’s stock worth $271,877,000 after buying an additional 463,797 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of First Bancorp by 1.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,362,274 shares of the bank’s stock valued at $157,915,000 after buying an additional 190,036 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First Bancorp by 127.5% in the fourth quarter. Bank of New York Mellon Corp now owns 9,052,922 shares of the bank’s stock valued at $77,855,000 after buying an additional 5,073,482 shares in the last quarter. Norges Bank bought a new position in shares of First Bancorp in the fourth quarter valued at $40,537,000. Finally, Geode Capital Management LLC raised its stake in First Bancorp by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 2,899,178 shares of the bank’s stock valued at $24,932,000 after purchasing an additional 122,165 shares during the period. Institutional investors own 89.29% of the company’s stock.

NYSE:FBP traded down $0.14 during trading hours on Monday, reaching $10.90. The company’s stock had a trading volume of 1,201,063 shares, compared to its average volume of 1,589,916. The company has a market cap of $2.40 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.06 and a beta of 1.55. First Bancorp has a one year low of $7.59 and a one year high of $11.94. The business has a 50-day 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 quarterly earnings results on Wednesday, April 24th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The business had revenue of $162.72 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.15 EPS. Sell-side analysts forecast that First Bancorp will post 0.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Wednesday, May 29th. First Bancorp’s payout ratio is 19.35%.

FBP has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. ValuEngine downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. First Bancorp currently has a consensus rating of “Buy” and a consensus price target of $10.88.

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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