Great West Life Assurance Co. Can Boosts Stake in First BanCorp. (FBP)
Great West Life Assurance Co. Can raised its stake in First BanCorp. (NYSE:FBP) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 640,315 shares of the bank’s stock after buying an additional 9,200 shares during the period. Great West Life Assurance Co. Can’s holdings in First BanCorp. were worth $3,706,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of First BanCorp. during the fourth quarter valued at $10,760,000. Teachers Advisors LLC boosted its stake in shares of First BanCorp. by 114.1% in the fourth quarter. Teachers Advisors LLC now owns 575,716 shares of the bank’s stock valued at $3,805,000 after buying an additional 306,824 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of First BanCorp. by 1.6% in the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock valued at $112,000 after buying an additional 316 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in First BanCorp. during the first quarter valued at approximately $173,000. Finally, Louisiana State Employees Retirement System raised its position in First BanCorp. by 17.7% in the first quarter. Louisiana State Employees Retirement System now owns 63,800 shares of the bank’s stock valued at $360,000 after buying an additional 9,600 shares during the last quarter. Institutional investors own 86.34% of the company’s stock.
First BanCorp. (NYSE:FBP) opened at 5.45 on Friday. The firm’s 50-day moving average is $5.85 and its 200 day moving average is $5.85. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 11.85 and a beta of 2.01. First BanCorp. has a 1-year low of $4.51 and a 1-year high of $7.05.
First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $144.45 million during the quarter, compared to analysts’ expectations of $145.55 million. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. During the same period in the prior year, the business posted $0.10 EPS. Equities analysts anticipate that First BanCorp. will post $0.47 EPS for the current fiscal year.
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Several research firms have commented on FBP. BidaskClub raised shares of First BanCorp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. 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 research note on Tuesday, August 1st.
In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.10% of the company’s stock.
First BanCorp. Company Profile
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