First Bancorp (FBP) Shares Sold by GSA Capital Partners LLP
GSA Capital Partners LLP trimmed its holdings in shares of First Bancorp (NYSE:FBP) by 57.1% during the second quarter, HoldingsChannel.com reports. The firm owned 61,428 shares of the bank’s stock after selling 81,751 shares during the quarter. GSA Capital Partners LLP’s holdings in First Bancorp were worth $470,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Stevens Capital Management LP acquired a new position in shares of First Bancorp during the second quarter valued at $276,000. Swiss National Bank increased its holdings in shares of First Bancorp by 5.7% during the second quarter. Swiss National Bank now owns 357,700 shares of the bank’s stock valued at $2,736,000 after purchasing an additional 19,200 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of First Bancorp by 14.2% during the second quarter. Russell Investments Group Ltd. now owns 773,148 shares of the bank’s stock valued at $5,915,000 after purchasing an additional 95,864 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of First Bancorp during the second quarter valued at $765,000. Finally, SG Americas Securities LLC increased its holdings in shares of First Bancorp by 1,915.8% during the second quarter. SG Americas Securities LLC now owns 319,376 shares of the bank’s stock valued at $2,443,000 after purchasing an additional 303,532 shares during the period. 88.52% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on FBP shares. Sandler O’Neill reissued a “buy” rating and set a $10.00 price target on shares of First Bancorp in a report on Thursday, August 2nd. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Friday, July 27th. ValuEngine lowered First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Merion Capital Group raised First Bancorp from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $8.00 to $9.50 in a report on Thursday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $8.63.
First Bancorp (NYSE:FBP) last released its earnings results on Wednesday, July 25th. The bank reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $150.94 million for the quarter, compared to analyst estimates of $150.60 million. First Bancorp had a return on equity of 6.36% and a net margin of 11.06%. During the same period in the previous year, the company earned $0.13 earnings per share. sell-side analysts anticipate 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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