Penbrook Management Lowers stake in First Bancorp (FBP)

First Bancorp (FBP) : Penbrook Management reduced its stake in First Bancorp by 1.88% during the most recent quarter end. The investment management company now holds a total of 104,540 shares of First Bancorp which is valued at $361,708 after selling 2,000 shares in First Bancorp , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.First Bancorp makes up approximately 0.39% of Penbrook Management’s portfolio.

First Bancorp opened for trading at $3.74 and hit $3.87 on the upside on Wednesday, eventually ending the session at $3.85, with a gain of 2.94% or 0.11 points. The heightened volatility saw the trading volume jump to 11,85,623 shares. Company has a market cap of $829 M.

Other Hedge Funds, Including , Strs Ohio sold out all of its stake in FBP during the most recent quarter. The investment firm sold 210,700 shares of FBP which is valued $729,022. Gemmer Asset Management added FBP to its portfolio by purchasing 1,328 company shares during the most recent quarter which is valued at $4,170. Acadian Asset Management sold out all of its stake in FBP during the most recent quarter. The investment firm sold 16,917 shares of FBP which is valued $53,119.Capstone Asset Management Co reduced its stake in FBP by selling 1,530 shares or 2.29% in the most recent quarter. The Hedge Fund company now holds 65,360 shares of FBP which is valued at $205,230. First Bancorp makes up approx 0.01% of Capstone Asset Management Co’s portfolio.

On the company’s financial health, First Bancorp reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $0.08.Analysts expectations of $ 147.10.During the same quarter in the previous year, the company posted $0.12 EPS.

Many Wall Street Analysts have commented on First Bancorp. First Bancorp was Initiated by Piper Jaffray to “Overweight” on Apr 8, 2016.

First BanCorp. is a financial holding company. The Company serves as the bank holding company for FirstBank Puerto Rico (FirstBank) and FirstBank Insurance Agency Inc. (FirstBank Insurance Agency). Through its wholly owned subsidiaries the Company provides financial services and products with operations in Puerto Rico the United States and the United States Virgin Islands and British Virgin Islands. It focuses on commercial banking residential mortgage loan originations finance leases credit cards personal loans small loans auto loans and insurance agency and broker-dealer activities. It operates in six segments: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; United States Operations and Virgin Islands Operations. It has two wholly owned subsidiaries: FirstBank a Puerto Rico-chartered commercial bank and FirstBank Insurance Agency a Puerto Rico-chartered insurance agency.

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