Lee Thomas H Partners LP Has Decreased Its Stake in First Bancorp (FBP) by $62.02 Million

June 19, 2017 - By Kurt Siggers

Investors sentiment increased to 1.89 in Q4 2016. Its up 0.62, from 1.27 in 2016Q3. It increased, as 16 investors sold FBP shares while 39 reduced holdings. 35 funds opened positions while 69 raised stakes. 180.78 million shares or 0.48% less from 181.66 million shares in 2016Q3 were reported. Tci Wealth Advsrs accumulated 292 shares. Oaktree Capital Mngmt Lp reported 31.49M shares. Convergence Invest Partners Limited Liability Company accumulated 334,016 shares. First Advsr Lp holds 0.01% or 274,217 shares in its portfolio. Wells Fargo & Com Mn holds 0% in First Bancorp (NYSE:FBP) or 257,817 shares. Verition Fund Mngmt Ltd Limited Liability Company reported 13,300 shares. Gru One Trading Lp owns 11,300 shares. 510,266 are owned by Sanctuary Wealth Advsrs Lc. Petrus Tru Company Lta owns 0.07% invested in First Bancorp (NYSE:FBP) for 40,185 shares. Tudor Invest Et Al has invested 0.02% in First Bancorp (NYSE:FBP). State Board Of Administration Of Florida Retirement System holds 0% or 11,455 shares in its portfolio. 142,705 were reported by Comerica State Bank. Sei Invs owns 2,293 shares for 0% of their portfolio. Millennium Mngmt Limited Company has invested 0.04% in First Bancorp (NYSE:FBP). Missouri-based Stieven Capital Advisors Ltd Partnership has invested 3.28% in First Bancorp (NYSE:FBP).

Since February 7, 2017, it had 0 buys, and 9 insider sales for $293.60 million activity. $300,905 worth of First Bancorp (NYSE:FBP) was sold by Berges Gonzalez Orlando. On Monday, May 1 Odell Lawrence sold $152,500 worth of First Bancorp (NYSE:FBP) or 25,000 shares. The insider Bresler Joshua D sold 11.50 million shares worth $73.14 million. Garcia Calixto also sold $395,905 worth of First Bancorp (NYSE:FBP) on Tuesday, March 14. Oaktree Principal Fund V (Delaware) – L.P. also sold $73.14 million worth of First Bancorp (NYSE:FBP) shares. 6,000 shares valued at $35,280 were sold by PANCHAM CASSAN on Wednesday, March 15. 11.50M shares were sold by Oaktree Capital Group Holdings GP – LLC, worth $73.14 million on Tuesday, February 7.

Lee Thomas H Partners Lp decreased its stake in First Bancorp (FBP) by 24.69% based on its latest 2016Q4 regulatory filing with the SEC. Lee Thomas H Partners Lp sold 10.34M shares as the company’s stock declined 17.25% while stock markets rallied. The institutional investor held 31.53 million shares of the major banks company at the end of 2016Q4, valued at $208.41 million, down from 41.87M at the end of the previous reported quarter. Lee Thomas H Partners Lp who had been investing in First Bancorp for a number of months, seems to be less bullish one the $1.28B market cap company. The stock rose 1.04% or $0.06 reaching $5.81. About 79,214 shares traded. First Bancorp (NYSE:FBP) has risen 32.84% since June 19, 2016 and is uptrending. It has outperformed by 16.14% the S&P500.

Wall Street await First Bancorp (NYSE:FBP) to release earnings on July, 25. Analysts forecast EPS of $0.11, up exactly $0.01 or 10.00 % from 2014’s $0.1 EPS. The expected FBP’s profit could reach $24.23M giving the stock 13.20 P/E in the case that $0.11 earnings per share is reported. After posting $0.11 EPS for the previous quarter, First Bancorp’s analysts now forecast 0.00 % EPS growth.

Another recent and important First Bancorp (NYSE:FBP) news was published by Nasdaq.com which published an article titled: “Commit To Buy First Bancorp At $5, Earn 10% Annualized Using Options” on June 15, 2017.

First Bancorp (NYSE:FBP) Ratings Coverage

Among 5 analysts covering First Bancorp (NYSE:FBP), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. First Bancorp had 5 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was upgraded by Guggenheim to “Buy” on Monday, July 27. Piper Jaffray initiated the stock with “Overweight” rating in Friday, April 8 report. The stock of First Bancorp (NYSE:FBP) earned “Neutral” rating by Citigroup on Wednesday, February 8. The stock has “Outperform” rating by Keefe Bruyette & Woods on Wednesday, October 14.

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