First Bancorp (NYSE:FBP) Shares Sold by Emerald Mutual Fund Advisers Trust

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Emerald Mutual Fund Advisers Trust lowered its stake in First Bancorp (NYSE:FBP) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,222 shares of the bank’s stock after selling 945 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in First Bancorp were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FBP. Dimensional Fund Advisors LP raised its position in First Bancorp by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,362,274 shares of the bank’s stock valued at $157,915,000 after purchasing an additional 190,036 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in First Bancorp in the 4th quarter valued at about $127,000. Geode Capital Management LLC raised its position in First Bancorp by 4.4% in 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 in the last quarter. Calamos Advisors LLC acquired a new stake in First Bancorp in the 1st quarter valued at about $693,000. Finally, First Citizens Bank & Trust Co. raised its position in shares of First Bancorp by 32.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 15,589 shares of the bank’s stock worth $179,000 after acquiring an additional 3,822 shares in the last quarter. 90.23% of the stock is currently owned by institutional investors.

Shares of NYSE FBP opened at $9.78 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.44. First Bancorp has a fifty-two week low of $7.91 and a fifty-two week high of $11.94. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.17 and a beta of 1.53. The stock’s 50-day simple moving average is $10.64.

First Bancorp (NYSE:FBP) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). First Bancorp had a return on equity of 7.73% and a net margin of 29.83%. The business had revenue of $164.77 million for the quarter, compared to analyst estimates of $169.10 million. During the same period last year, the business posted $0.14 EPS. On average, sell-side analysts forecast that First Bancorp will post 0.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, August 28th. First Bancorp’s dividend payout ratio (DPR) is presently 19.35%.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised First Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine lowered First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th.

First Bancorp Company 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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Institutional Ownership by Quarter for First Bancorp (NYSE:FBP)

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