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Millennium Management LLC grew its holdings in shares of First Bancorp (NYSE:FBP) by 35.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,998,527 shares of the bank’s stock after buying an additional 522,774 shares during the period. Millennium Management LLC owned 0.92% of First Bancorp worth $17,187,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in First Bancorp in the fourth quarter worth about $65,000. First Citizens Bank & Trust Co. acquired a new stake in shares of First Bancorp in the 4th quarter worth $101,000. WINTON GROUP Ltd acquired a new stake in shares of First Bancorp in the 4th quarter worth $112,000. Cigna Investments Inc. New acquired a new stake in shares of First Bancorp in the 4th quarter worth $115,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of First Bancorp in the 4th quarter worth $127,000. 91.50% of the stock is currently owned by hedge funds and other institutional investors.
FBP opened at $11.47 on Thursday. First Bancorp has a fifty-two week low of $6.32 and a fifty-two week high of $11.94. The stock has a market cap of $2.49 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.96 and a beta of 1.56. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46.
First Bancorp (NYSE:FBP) last announced its quarterly earnings results on Tuesday, January 29th. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $158.23 million for the quarter, compared to analyst estimates of $158.30 million. First Bancorp had a net margin of 28.13% and a return on equity of 7.36%. During the same quarter last year, the business earned $0.11 earnings per share. Sell-side analysts predict that First Bancorp will post 0.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, February 27th. First Bancorp’s dividend payout ratio (DPR) is presently 19.35%.
A number of research firms have recently weighed in on FBP. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, December 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. First Bancorp presently has an average rating of “Buy” and a consensus price target of $10.50.
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First Bancorp 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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