First BanCorp. (FBP) Shares Sold by Aperio Group LLC
Aperio Group LLC lowered its position in First BanCorp. (NYSE:FBP) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,423 shares of the bank’s stock after selling 1,290 shares during the period. Aperio Group LLC’s holdings in First BanCorp. were worth $1,467,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Wetherby Asset Management Inc. bought a new stake in First BanCorp. during the first quarter worth about $104,000. Everence Capital Management Inc. bought a new stake in First BanCorp. during the first quarter worth about $107,000. Brandes Investment Partners LP increased its stake in First BanCorp. by 25.0% in the first quarter. Brandes Investment Partners LP now owns 19,506 shares of the bank’s stock worth $110,000 after buying an additional 3,902 shares in the last quarter. Bank of Montreal Can increased its stake in First BanCorp. by 1.6% in the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after buying an additional 316 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in First BanCorp. by 444.6% in the first quarter. LS Investment Advisors LLC now owns 25,674 shares of the bank’s stock worth $145,000 after buying an additional 20,960 shares in the last quarter. 86.06% of the stock is owned by institutional investors.
Shares of First BanCorp. (FBP) traded up 0.54% during trading on Friday, reaching $5.61. 1,769,919 shares of the company were exchanged. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 12.20 and a beta of 2.01. First BanCorp. has a 1-year low of $4.28 and a 1-year high of $7.05. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $5.88.
First BanCorp. (NYSE:FBP) last issued its earnings results on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. The firm had revenue of $144.45 million during the quarter, compared to analyst estimates of $145.55 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Equities analysts anticipate that First BanCorp. will post $0.47 earnings per share for the current year.
A number of analysts have recently issued reports on FBP shares. Zacks Investment Research raised shares of First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Tuesday, August 1st. BidaskClub raised shares of First BanCorp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $7.00.
In related news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 21.10% of the stock is currently owned by corporate insiders.
About First BanCorp.
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