California Public Employees Retirement System Raises Position in First Bancorp (NYSE:FBP)

California Public Employees Retirement System increased its holdings in shares of First Bancorp (NYSE:FBP) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 822,399 shares of the bank’s stock after acquiring an additional 23,999 shares during the period. California Public Employees Retirement System owned about 0.38% of First Bancorp worth $4,211,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FBP. BlackRock Inc. raised its stake in shares of First Bancorp by 9.8% in the second quarter. BlackRock Inc. now owns 19,334,736 shares of the bank’s stock worth $111,947,000 after acquiring an additional 1,721,947 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of First Bancorp by 7.0% during the second quarter. Vanguard Group Inc. now owns 15,613,136 shares of the bank’s stock worth $90,400,000 after buying an additional 1,027,469 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Bancorp by 7.9% during the third quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock worth $59,974,000 after buying an additional 860,841 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of First Bancorp by 11.4% during the third quarter. Frontier Capital Management Co. LLC now owns 10,598,957 shares of the bank’s stock worth $54,267,000 after buying an additional 1,083,233 shares during the last quarter. Finally, FMR LLC raised its stake in shares of First Bancorp by 10.0% during the second quarter. FMR LLC now owns 7,918,617 shares of the bank’s stock worth $45,849,000 after buying an additional 718,217 shares during the last quarter. Institutional investors and hedge funds own 90.29% of the company’s stock.

First Bancorp (NYSE:FBP) opened at $5.46 on Thursday. The company has a market cap of $1,163.02, a PE ratio of 18.20, a P/E/G ratio of 0.92 and a beta of 1.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. First Bancorp has a one year low of $4.48 and a one year high of $7.02.

First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Monday, November 6th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. First Bancorp had a net margin of 9.83% and a return on equity of 5.71%. research analysts anticipate that First Bancorp will post 0.25 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $7.50 price target on shares of First Bancorp in a research report on Friday, November 10th. Finally, TheStreet lowered shares of First Bancorp from a “b-” rating to a “c” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.60.

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First Bancorp Profile

First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services.

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

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