First BanCorp. (NYSE:FBP) Stake Increased by Teachers Advisors LLC
Teachers Advisors LLC raised its stake in First BanCorp. (NYSE:FBP) by 14.9% during the first quarter, Holdings Channel reports. The fund owned 661,650 shares of the bank’s stock after buying an additional 85,934 shares during the period. Teachers Advisors LLC’s holdings in First BanCorp. were worth $3,738,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in First BanCorp. by 90.5% in the first quarter. Wellington Management Group LLP now owns 8,417,543 shares of the bank’s stock valued at $47,559,000 after buying an additional 3,999,151 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in First BanCorp. by 8.4% in the first quarter. Frontier Capital Management Co. LLC now owns 7,881,549 shares of the bank’s stock valued at $44,531,000 after buying an additional 612,493 shares during the last quarter. FMR LLC boosted its stake in First BanCorp. by 2.9% in the first quarter. FMR LLC now owns 7,200,400 shares of the bank’s stock valued at $40,682,000 after buying an additional 200,400 shares during the last quarter. Stieven Capital Advisors L.P. boosted its stake in First BanCorp. by 11.1% in the first quarter. Stieven Capital Advisors L.P. now owns 2,800,018 shares of the bank’s stock valued at $15,820,000 after buying an additional 280,300 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of First BanCorp. during the fourth quarter worth approximately $10,760,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.
First BanCorp. (NYSE:FBP) opened at 5.71 on Thursday. First BanCorp. has a 52 week low of $4.28 and a 52 week high of $7.05. The stock has a 50 day moving average price of $5.84 and a 200-day moving average price of $5.89. The company has a market capitalization of $1.22 billion, a PE ratio of 12.41 and a beta of 2.01.
First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. The company had revenue of $144.45 million during the quarter, compared to the consensus estimate of $145.55 million. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities analysts predict that First BanCorp. will post $0.47 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on FBP shares. BidaskClub cut First BanCorp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $7.00.
In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of First BanCorp. stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.66, for a total transaction of $56,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.10% of the company’s stock.
About First BanCorp.
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