Wetherby Asset Management Inc. trimmed its position in First Bancorp (NYSE:FBP) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,225 shares of the bank’s stock after selling 1,157 shares during the quarter. Wetherby Asset Management Inc.’s holdings in First Bancorp were worth $148,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of First Bancorp during the 4th quarter worth about $65,000. First Citizens Bank & Trust Co. acquired a new position in shares of First Bancorp during the 4th quarter worth about $101,000. Tower Research Capital LLC TRC acquired a new position in shares of First Bancorp during the 3rd quarter worth about $176,000. Quantamental Technologies LLC acquired a new position in shares of First Bancorp during the 4th quarter worth about $195,000. Finally, GWM Advisors LLC acquired a new position in shares of First Bancorp during the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.
NYSE:FBP opened at $10.71 on Friday. First Bancorp has a fifty-two week low of $5.68 and a fifty-two week high of $10.83. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.32 billion, a PE ratio of 17.27 and a beta of 1.55.
Several research firms have recently issued reports on FBP. Zacks Investment Research upgraded First Bancorp from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Thursday, January 31st. ValuEngine upgraded First Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, December 12th. Finally, TheStreet upgraded First Bancorp from a “c+” rating to a “b” rating in a research report on Friday, October 26th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.50.
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First Bancorp Profile
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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