Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Decreases Holdings in First Bancorp (NYSE:FBP)

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.

NYSE FBP traded down $0.16 on Monday, hitting $11.46. 824,937 shares of the stock traded hands, compared to its average volume of 1,454,474. First Bancorp has a twelve month low of $6.51 and a twelve month high of $11.94. The stock has a market capitalization of $2.52 billion, a P/E ratio of 18.48, a PEG ratio of 0.97 and a beta of 1.56. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.46.

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.

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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.

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

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