Trexquant Investment LP Acquires New Stake in First Bancorp (FBP)

Trexquant Investment LP acquired a new stake in shares of First Bancorp (NYSE:FBP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,612 shares of the bank’s stock, valued at approximately $333,000.

Other institutional investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC purchased a new stake in First Bancorp during the second quarter valued at $100,000. Flinton Capital Management LLC purchased a new stake in First Bancorp during the second quarter valued at $112,000. Neuburgh Advisers LLC purchased a new stake in First Bancorp during the second quarter valued at $136,000. Nomura Holdings Inc. purchased a new stake in First Bancorp during the second quarter valued at $161,000. Finally, Bank of Montreal Can purchased a new stake in First Bancorp during the second quarter valued at $170,000. Institutional investors own 89.34% of the company’s stock.

NYSE:FBP opened at $8.71 on Friday. First Bancorp has a 52-week low of $4.84 and a 52-week high of $9.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 0.41 and a beta of 1.69.

First Bancorp (NYSE:FBP) last released its quarterly earnings results on Thursday, October 25th. The bank reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. First Bancorp had a return on equity of 6.69% and a net margin of 17.75%. The business had revenue of $151.04 million during the quarter, compared to analyst estimates of $161.70 million. Equities research analysts predict that First Bancorp will post 0.62 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, November 29th. First Bancorp’s dividend payout ratio is presently 24.00%.

A number of research firms recently commented on FBP. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, September 28th. Zacks Investment Research cut First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. TheStreet upgraded First Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 26th. Finally, Bank of America upgraded First Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $9.00 to $12.00 in a research report on Thursday, September 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.63.

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About First Bancorp

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through 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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