First BanCorp. (FBP) Shares Bought by Rock Point Advisors LLC
Rock Point Advisors LLC increased its stake in First BanCorp. (NYSE:FBP) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 949,705 shares of the bank’s stock after purchasing an additional 32,630 shares during the period. First BanCorp. makes up 2.6% of Rock Point Advisors LLC’s holdings, making the stock its 18th largest position. Rock Point Advisors LLC owned approximately 0.44% of First BanCorp. worth $5,499,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brandes Investment Partners LP boosted its stake in First BanCorp. by 25.0% in the 1st quarter. Brandes Investment Partners LP now owns 19,506 shares of the bank’s stock worth $110,000 after purchasing an additional 3,902 shares during the period. Bank of Montreal Can boosted its stake in First BanCorp. by 1.6% in the 1st quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after purchasing an additional 316 shares during the period. LS Investment Advisors LLC boosted its stake in First BanCorp. by 444.6% in the 1st quarter. LS Investment Advisors LLC now owns 25,674 shares of the bank’s stock worth $145,000 after purchasing an additional 20,960 shares during the period. Pacad Investment Ltd. boosted its stake in First BanCorp. by 63.7% in the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after purchasing an additional 10,000 shares during the period. Finally, Profund Advisors LLC boosted its stake in First BanCorp. by 1.7% in the 1st quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock worth $150,000 after purchasing an additional 436 shares during the period. 91.05% of the stock is owned by hedge funds and other institutional investors.
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Shares of First BanCorp. (FBP) traded up 0.35% during trading on Thursday, reaching $5.74. 205,590 shares of the company were exchanged. The stock’s 50-day moving average is $5.68 and its 200-day moving average is $5.71. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 12.48 and a beta of 2.02. First BanCorp. has a 52-week low of $4.51 and a 52-week high of $7.05.
First BanCorp. (NYSE:FBP) last posted its quarterly earnings results on Friday, July 28th. The bank reported $0.13 EPS 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 net margin of 15.17% and a return on equity of 5.57%. During the same period last year, the company posted $0.10 earnings per share. Equities research analysts predict that First BanCorp. will post $0.47 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. 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 target price for the company in a research note on Tuesday, August 1st.
In other First BanCorp. news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.66, for a total value of $56,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.10% of the company’s stock.
First BanCorp. Profile
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