Squarepoint Ops LLC purchased a new stake in First Bancorp (NYSE:FBP) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,731 shares of the bank’s stock, valued at approximately $127,000.
Several other hedge funds have also added to or reduced their stakes in FBP. Oppenheimer Asset Management Inc. acquired a new position in shares of First Bancorp in the fourth quarter valued at about $65,000. Oregon Public Employees Retirement Fund acquired a new stake in First Bancorp during the fourth quarter worth about $83,000. First Citizens Bank & Trust Co. acquired a new stake in First Bancorp during the fourth quarter worth about $101,000. WINTON GROUP Ltd acquired a new stake in First Bancorp during the fourth quarter worth about $112,000. Finally, Cigna Investments Inc. New acquired a new stake in First Bancorp during the fourth quarter worth about $115,000. Institutional investors and hedge funds own 91.50% of the company’s stock.
Separately, Zacks Investment Research downgraded shares of First Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, December 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. First Bancorp has a consensus rating of “Buy” and an average 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, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $158.23 million for the quarter, compared to the consensus estimate of $158.30 million. First Bancorp had a net margin of 28.13% and a return on equity of 7.36%. During the same period in the prior year, the company posted $0.11 earnings per share. On average, analysts predict that First Bancorp will post 0.76 EPS for the current fiscal 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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