Brown Advisory Inc. purchased a new stake in First Bancorp (NYSE:FBP) in the 2nd quarter, Holdings Channel reports. The firm purchased 44,810 shares of the bank’s stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FBP. BlackRock Inc. boosted its holdings in shares of First Bancorp by 12.1% in the 2nd quarter. BlackRock Inc. now owns 26,698,146 shares of the bank’s stock valued at $204,240,000 after buying an additional 2,881,119 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of First Bancorp by 15.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 15,813,353 shares of the bank’s stock valued at $95,196,000 after buying an additional 2,098,482 shares during the period. Millennium Management LLC boosted its holdings in shares of First Bancorp by 160.7% in the 1st quarter. Millennium Management LLC now owns 2,845,990 shares of the bank’s stock valued at $17,133,000 after buying an additional 1,754,333 shares during the period. UBS Group AG boosted its holdings in shares of First Bancorp by 50.5% in the 1st quarter. UBS Group AG now owns 1,351,314 shares of the bank’s stock valued at $8,135,000 after buying an additional 453,452 shares during the period. Finally, James Investment Research Inc. acquired a new position in shares of First Bancorp in the 2nd quarter valued at about $2,937,000. 88.52% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on FBP. Zacks Investment Research lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Sandler O’Neill reaffirmed a “buy” rating and issued a $10.00 price target on shares of First Bancorp in a report on Thursday, August 2nd. ValuEngine downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Merion Capital Group upgraded shares of First Bancorp from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $8.00 to $9.50 in a research report on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $8.63.

Shares of NYSE:FBP opened at $8.52 on Friday. The stock has a market capitalization of $1.86 billion, a P/E ratio of 17.20 and a beta of 1.84. First Bancorp has a fifty-two week low of $4.48 and a fifty-two week high of $9.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 0.98.

First Bancorp (NYSE:FBP) last issued its quarterly earnings data on Wednesday, July 25th. The bank reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The firm had revenue of $150.94 million for the quarter, compared to the consensus estimate of $150.60 million. First Bancorp had a net margin of 11.06% and a return on equity of 6.36%. During the same period last year, the firm posted $0.13 EPS. research analysts expect that First Bancorp will post 0.59 earnings per share for the current fiscal year.

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

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