Trade Report: The Virginia Retirement Systems ET AL Acquires 44,300 Shares of First Bancorp (FBP)

The Virginia Retirement Systems ET AL Acquires 44,300  Shares of First Bancorp (FBP)

Virginia Retirement Systems ET AL purchased a new stake in First Bancorp (NYSE:FBP) during the second quarter, Holdings Channel reports. The institutional investor purchased 44,300 shares of the company’s stock, valued at approximately $176,000.

Other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of First Bancorp by 97.9% in the second quarter. BNP Paribas Arbitrage SA now owns 36,403 shares of the company’s stock valued at $145,000 after buying an additional 18,010 shares during the period. Acrospire Investment Management LLC increased its stake in shares of First Bancorp by 195.9% in the second quarter. Acrospire Investment Management LLC now owns 48,544 shares of the company’s stock valued at $193,000 after buying an additional 32,137 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of First Bancorp by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 51,900 shares of the company’s stock valued at $206,000 after buying an additional 500 shares during the period. New York State Teachers Retirement System increased its stake in shares of First Bancorp by 3.9% in the second quarter. New York State Teachers Retirement System now owns 68,836 shares of the company’s stock valued at $273,000 after buying an additional 2,600 shares during the period. Finally, Harvest Capital Strategies LLC bought a new stake in shares of First Bancorp during the first quarter valued at about $205,000. Institutional investors and hedge funds own 84.71% of the company’s stock.

Shares of First Bancorp (NYSE:FBP) opened at 5.30 on Thursday. The stock has a market cap of $1.13 billion, a PE ratio of 15.23 and a beta of 2.16. The company’s 50-day moving average price is $4.96 and its 200-day moving average price is $4.22. First Bancorp has a one year low of $2.06 and a one year high of $5.49.

First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. First Bancorp had a return on equity of 4.42% and a net margin of 11.37%. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Equities research analysts anticipate that First Bancorp will post $0.41 earnings per share for the current year.

Several research analysts have recently weighed in on FBP shares. Zacks Investment Research downgraded First Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. TheStreet upgraded First Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 17th.

About First Bancorp

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