Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its holdings in First Bancorp (NYSE:FBP) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 226,800 shares of the bank’s stock after selling 110,000 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.10% of First Bancorp worth $1,950,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of First Bancorp in the fourth quarter worth about $65,000. Oregon Public Employees Retirement Fund acquired a new position in shares of First Bancorp in the fourth quarter worth about $83,000. First Citizens Bank & Trust Co. acquired a new position in shares of First Bancorp in the fourth quarter worth about $101,000. WINTON GROUP Ltd acquired a new position in shares of First Bancorp in the fourth quarter worth about $112,000. Finally, Cigna Investments Inc. New acquired a new position in shares of First Bancorp in the fourth quarter worth about $115,000. Institutional investors and hedge funds own 91.50% of the company’s stock.
Separately, Zacks Investment Research cut First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $10.50.
First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Tuesday, January 29th. The bank reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. First Bancorp had a return on equity of 7.36% and a net margin of 28.13%. The firm had revenue of $158.23 million for the quarter, compared to analysts’ expectations of $158.30 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. On average, analysts anticipate that First Bancorp will post 0.76 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This article was posted by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/her-majesty-the-queen-in-right-of-the-province-of-alberta-as-represented-by-alberta-investment-management-corp-has-1-95-million-position-in-first-bancorp-fbp.html.
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.
Read More: Trading Strategy Examples and Plans
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.