First Bancorp (NYSE:FBP) Shares Bought by Federated Investors Inc. PA

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Federated Investors Inc. PA increased its position in First Bancorp (NYSE:FBP) by 120.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 772,397 shares of the bank’s stock after buying an additional 421,457 shares during the period. Federated Investors Inc. PA’s holdings in First Bancorp were worth $8,851,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FBP. Toronto Dominion Bank purchased a new stake in shares of First Bancorp in the first quarter worth about $40,000. Oppenheimer Asset Management Inc. purchased a new stake in First Bancorp during the fourth quarter valued at approximately $65,000. Oregon Public Employees Retirement Fund purchased a new stake in First Bancorp during the fourth quarter valued at approximately $83,000. WINTON GROUP Ltd purchased a new stake in First Bancorp during the fourth quarter valued at approximately $112,000. Finally, Cigna Investments Inc. New purchased a new stake in First Bancorp during the fourth quarter valued at approximately $115,000. Institutional investors own 89.29% of the company’s stock.

Shares of FBP stock opened at $10.02 on Thursday. First Bancorp has a 1 year low of $7.59 and a 1 year high of $11.94. 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 company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 0.97 and a beta of 1.57.

First Bancorp (NYSE:FBP) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). First Bancorp had a net margin of 28.97% and a return on equity of 7.43%. The company had revenue of $162.72 million for the quarter, compared to analysts’ expectations of $163.50 million. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts anticipate that First Bancorp will post 0.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.20%. First Bancorp’s dividend payout ratio (DPR) is presently 19.35%.

A number of equities research analysts have issued reports on FBP shares. ValuEngine downgraded First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Zacks Investment Research downgraded First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. First Bancorp presently has an average rating of “Buy” and a consensus price target of $10.88.

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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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