Meeder Asset Management Inc. raised its holdings in shares of First Bancorp (NYSE:FBP) by 23.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,648 shares of the bank’s stock after purchasing an additional 7,068 shares during the quarter. Meeder Asset Management Inc.’s holdings in First Bancorp were worth $421,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FBP. Oppenheimer Asset Management Inc. bought a new stake in shares of First Bancorp during the fourth quarter worth $65,000. Oregon Public Employees Retirement Fund bought a new stake in shares of First Bancorp during the fourth quarter worth $83,000. First Citizens Bank & Trust Co. bought a new stake in shares of First Bancorp during the fourth quarter worth $101,000. WINTON GROUP Ltd bought a new stake in shares of First Bancorp during the fourth quarter worth $112,000. Finally, Cigna Investments Inc. New bought a new stake in shares of First Bancorp during the fourth quarter worth $115,000. Institutional investors and hedge funds own 91.50% of the company’s stock.

FBP stock opened at $11.43 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.48 billion, a P/E ratio of 18.44, a PEG ratio of 0.96 and a beta of 1.56. First Bancorp has a 1-year low of $6.53 and a 1-year high of $11.94.

First Bancorp (NYSE:FBP) last released its quarterly earnings data on Tuesday, January 29th. The bank reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. The firm had revenue of $158.23 million during the quarter, compared to the consensus estimate of $158.30 million. First Bancorp had a return on equity of 7.36% and a net margin of 28.13%. During the same period in the previous year, the company posted $0.11 earnings per share. On average, sell-side analysts anticipate that First Bancorp will post 0.76 EPS for the current fiscal year.

Separately, Zacks Investment Research downgraded First Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. First Bancorp currently has an average rating of “Buy” and a consensus target price of $10.50.

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About First Bancorp

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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