Rock Point Advisors LLC cut its stake in First Bancorp (NYSE:FBP) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,215,060 shares of the company’s stock after selling 137,375 shares during the period. First Bancorp accounts for approximately 2.6% of Rock Point Advisors LLC’s holdings, making the stock its 13th largest position. Rock Point Advisors LLC’s holdings in First Bancorp were worth $4,824,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of FBP. Prudential Financial Inc. increased its stake in shares of First Bancorp by 3.4% in the first quarter. Prudential Financial Inc. now owns 283,199 shares of the company’s stock valued at $827,000 after buying an additional 9,300 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Bancorp by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 2,345,149 shares of the company’s stock worth $6,848,000 after buying an additional 54,809 shares during the period. Smith Asset Management Group LP purchased a new stake in First Bancorp during the second quarter worth approximately $427,000. Stilwell Value LLC increased its stake in First Bancorp by 83.5% in the first quarter. Stilwell Value LLC now owns 578,000 shares of the company’s stock worth $1,688,000 after buying an additional 263,000 shares during the period. Finally, Aperio Group LLC increased its stake in First Bancorp by 631.5% in the first quarter. Aperio Group LLC now owns 248,089 shares of the company’s stock worth $724,000 after buying an additional 214,173 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.
First Bancorp (NYSE:FBP) traded down 2.46% during midday trading on Monday, hitting $5.16. The company had a trading volume of 419,323 shares. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 14.83 and a beta of 2.15. First Bancorp has a 12 month low of $2.06 and a 12 month high of $5.49. The firm has a 50-day moving average price of $4.99 and a 200-day moving average price of $4.28.
First Bancorp (NYSE:FBP) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. First Bancorp had a return on equity of 4.42% and a net margin of 11.37%. During the same quarter in the prior year, the business posted ($0.16) EPS. Equities analysts anticipate that First Bancorp will post $0.41 EPS for the current year.
FBP has been the subject of a number of research reports. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Tuesday, July 12th. TheStreet raised First Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th.
First Bancorp Company Profile
Want to see what other hedge funds are holding FBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Bancorp (NYSE:FBP).
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.