First Bancorp (FBP) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in First Bancorp (NYSE:FBP) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,899,178 shares of the bank’s stock after purchasing an additional 122,165 shares during the quarter. Geode Capital Management LLC’s holdings in First Bancorp were worth $24,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new position in shares of First Bancorp in the 4th quarter valued at $65,000. Oregon Public Employees Retirement Fund purchased a new position in shares of First Bancorp in the 4th quarter valued at $83,000. First Citizens Bank & Trust Co. purchased a new position in shares of First Bancorp in the 4th quarter valued at $101,000. WINTON GROUP Ltd purchased a new position in shares of First Bancorp in the 4th quarter valued at $112,000. Finally, Cigna Investments Inc. New purchased a new position in shares of First Bancorp in the 4th quarter valued at $115,000. Institutional investors own 91.50% of the company’s stock.

A number of brokerages have recently commented on FBP. Zacks Investment Research downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. ValuEngine downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, December 5th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.50.

Shares of FBP stock opened at $11.74 on Tuesday. First Bancorp has a 52 week low of $5.93 and a 52 week high of $11.77. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.49 billion, a PE ratio of 17.91 and a beta of 1.56.

First Bancorp (NYSE:FBP) last issued its earnings results on Tuesday, January 29th. The bank reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. First Bancorp had a net margin of 28.13% and a return on equity of 7.36%. The business had revenue of $158.23 million for the quarter, compared to the consensus estimate of $158.30 million. During the same quarter last year, the firm posted $0.11 EPS. On average, equities analysts expect that First Bancorp will post 0.74 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 28th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, February 27th. First Bancorp’s dividend payout ratio (DPR) is 19.35%.

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First Bancorp Company Profile

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through 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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