New York State Teachers Retirement System Boosts Position in First Bancorp (FBP)

New York State Teachers Retirement System raised its position in shares of First Bancorp (NYSE:FBP) by 15.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,536 shares of the company’s stock after buying an additional 13,400 shares during the period. New York State Teachers Retirement System’s holdings in First Bancorp were worth $651,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Bank of Montreal Can increased its stake in First Bancorp by 1.7% in the third quarter. Bank of Montreal Can now owns 19,520 shares of the company’s stock worth $102,000 after buying an additional 325 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in First Bancorp by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 25,900 shares of the company’s stock worth $135,000 after buying an additional 400 shares in the last quarter. Smith Asset Management Group LP increased its stake in First Bancorp by 2.3% in the third quarter. Smith Asset Management Group LP now owns 110,000 shares of the company’s stock worth $572,000 after buying an additional 2,460 shares in the last quarter. BlackRock Investment Management LLC increased its stake in First Bancorp by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 537,514 shares of the company’s stock worth $2,795,000 after buying an additional 5,047 shares in the last quarter. Finally, Stevens Capital Management LP increased its stake in First Bancorp by 35.3% in the third quarter. Stevens Capital Management LP now owns 39,671 shares of the company’s stock worth $206,000 after buying an additional 10,361 shares in the last quarter. Institutional investors own 84.24% of the company’s stock.

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

Shares of First Bancorp (NYSE:FBP) opened at 5.44 on Tuesday. The firm has a 50-day moving average price of $6.20 and a 200-day moving average price of $5.98. First Bancorp has a 52-week low of $2.52 and a 52-week high of $7.05. The stock has a market cap of $1.16 billion, a P/E ratio of 12.65 and a beta of 2.11.

First Bancorp (NYSE:FBP) last released its quarterly earnings data on Thursday, January 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. First Bancorp had a return on equity of 5.33% and a net margin of 14.23%. During the same period in the prior year, the company posted $0.07 earnings per share. On average, analysts anticipate that First Bancorp will post $0.41 EPS for the current fiscal year.

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A number of research firms have commented on FBP. Zacks Investment Research downgraded First Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Citigroup Inc began coverage on First Bancorp in a research report on Wednesday, February 8th. They issued a “neutral” rating and a $7.00 target price on the stock.

About First Bancorp

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