Man Group plc Has $7.64 Million Stake in First Bancorp (NYSE:FBP)

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Man Group plc lowered its holdings in shares of First Bancorp (NYSE:FBP) by 60.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 765,331 shares of the bank’s stock after selling 1,182,576 shares during the quarter. Man Group plc owned 0.35% of First Bancorp worth $7,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FBP. North Star Investment Management Corp. purchased a new stake in shares of First Bancorp in the third quarter valued at $27,000. FNY Investment Advisers LLC purchased a new stake in shares of First Bancorp in the third quarter valued at $29,000. Macquarie Group Ltd. purchased a new position in First Bancorp in the 2nd quarter worth about $95,000. Campbell & CO Investment Adviser LLC purchased a new position in First Bancorp in the 3rd quarter worth about $109,000. Finally, Stevens Capital Management LP purchased a new position in First Bancorp in the 2nd quarter worth about $136,000. Institutional investors and hedge funds own 89.93% of the company’s stock.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. ValuEngine cut shares of First Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th.

Shares of NYSE:FBP traded down $0.14 during trading on Friday, reaching $10.58. The stock had a trading volume of 566,394 shares, compared to its average volume of 1,140,748. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.43. First Bancorp has a one year low of $8.20 and a one year high of $11.94. The firm’s 50-day simple moving average is $10.55 and its 200 day simple moving average is $10.29. The company has a market capitalization of $2.33 billion, a P/E ratio of 14.29, a PEG ratio of 0.76 and a beta of 1.55.

First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $165.83 million during the quarter, compared to analysts’ expectations of $171.90 million. First Bancorp had a net margin of 30.46% and a return on equity of 7.93%. During the same period in the previous year, the business posted $0.16 EPS. Equities research analysts forecast that First Bancorp will post 0.75 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, November 27th. This is a positive change from First Bancorp’s previous quarterly dividend of $0.03. First Bancorp’s payout ratio is presently 32.26%.

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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