New York State Common Retirement Fund Grows Position in First Bancorp (FBP)

New York State Common Retirement Fund lifted its position in shares of First Bancorp (NYSE:FBP) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,100 shares of the bank’s stock after purchasing an additional 17,100 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of First Bancorp worth $891,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in First Bancorp by 36.3% in the second quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after acquiring an additional 5,989 shares in the last quarter. Bank of Montreal Can boosted its holdings in First Bancorp by 21.5% in the second quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock worth $139,000 after acquiring an additional 4,256 shares in the last quarter. Pacad Investment Ltd. boosted its holdings in First Bancorp by 63.7% in the second quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after acquiring an additional 10,000 shares in the last quarter. Profund Advisors LLC boosted its holdings in First Bancorp by 15.2% in the second quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock worth $178,000 after acquiring an additional 4,052 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in First Bancorp in the second quarter worth $199,000. Institutional investors own 90.29% of the company’s stock.

First Bancorp (FBP) opened at $5.13 on Friday. First Bancorp has a one year low of $4.48 and a one year high of $7.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1,098.17, a price-to-earnings ratio of 17.10, a PEG ratio of 1.68 and a beta of 1.93.

Several research firms have commented on FBP. ValuEngine downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Thursday, October 12th. Piper Jaffray Companies reissued a “buy” rating and issued a $7.50 target price on shares of First Bancorp in a report on Friday, November 10th. Citigroup raised First Bancorp from a “neutral” rating to a “buy” rating in a report on Thursday, December 21st. Finally, TheStreet downgraded First Bancorp from a “b-” rating to a “c” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $6.50.

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First Bancorp Profile

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

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