First Bancorp (NYSE:FBP) Short Interest Up 11.3% in July
First Bancorp (NYSE:FBP) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 2,960,000 shares, a growth of 11.3% from the June 30th total of 2,660,000 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,660,000 shares, the days-to-cover ratio is presently 1.8 days.
FBP has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Citigroup increased their price target on shares of First Bancorp from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, ValuEngine raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 1st.
Shares of FBP traded down $0.11 during mid-day trading on Friday, reaching $5.44. 2,105,053 shares of the company’s stock were exchanged, compared to its average volume of 1,450,293. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.93 and a quick ratio of 0.98. The stock has a market capitalization of $1.19 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.59 and a beta of 1.48. The business’s fifty day simple moving average is $5.44 and its 200-day simple moving average is $6.48. First Bancorp has a 52-week low of $3.50 and a 52-week high of $11.10.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its holdings in shares of First Bancorp by 8.7% during the second quarter. Comerica Bank now owns 230,233 shares of the bank’s stock worth $1,303,000 after purchasing an additional 18,454 shares during the period. UBS Group AG lifted its holdings in shares of First Bancorp by 110.5% during the second quarter. UBS Group AG now owns 247,568 shares of the bank’s stock worth $1,384,000 after purchasing an additional 129,953 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in First Bancorp by 33.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,132 shares of the bank’s stock valued at $129,000 after acquiring an additional 5,763 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in First Bancorp in the second quarter valued at $328,000. Finally, Strs Ohio lifted its holdings in First Bancorp by 9.5% in the second quarter. Strs Ohio now owns 140,000 shares of the bank’s stock valued at $782,000 after acquiring an additional 12,200 shares during the period. 91.27% of the stock is owned by hedge funds and other institutional investors.
First Bancorp Company Profile
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.