First BanCorp. (NYSE:FBP) Holdings Boosted by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC raised its stake in shares of First BanCorp. (NYSE:FBP) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,205,818 shares of the bank’s stock after buying an additional 146,389 shares during the period. Parametric Portfolio Associates LLC owned about 0.56% of First BanCorp. worth $6,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FBP. Amalgamated Bank raised its stake in First BanCorp. by 36.3% during the 2nd quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock valued at $130,000 after buying an additional 5,989 shares during the last quarter. Bank of Montreal Can raised its stake in First BanCorp. by 21.5% during the 2nd quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock valued at $139,000 after buying an additional 4,256 shares during the last quarter. Pacad Investment Ltd. raised its stake in First BanCorp. by 63.7% during the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock valued at $149,000 after buying an additional 10,000 shares during the last quarter. LS Investment Advisors LLC raised its stake in First BanCorp. by 1.4% during the 2nd quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock valued at $151,000 after buying an additional 370 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in First BanCorp. by 15.2% during the 2nd quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock valued at $178,000 after buying an additional 4,052 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

In related news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the business’s stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. 21.10% of the stock is owned by company insiders.

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First BanCorp. (NYSE FBP) remained flat at $5.18 on Friday. 1,622,117 shares of the stock traded hands. First BanCorp. has a 52 week low of $4.65 and a 52 week high of $7.05. The company’s 50 day moving average is $5.21 and its 200-day moving average is $5.56. The company has a market capitalization of $1.11 billion, a PE ratio of 11.26 and a beta of 1.96.

First BanCorp. (NYSE:FBP) last announced its earnings results on Friday, July 28th. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $144.45 million for the quarter, compared to analyst estimates of $145.55 million. During the same quarter last year, the business earned $0.10 earnings per share. Equities research analysts expect that First BanCorp. will post $0.46 earnings per share for the current year.

Several equities research analysts have recently commented on FBP shares. BidaskClub upgraded First BanCorp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded 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. Finally, ValuEngine lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. First BanCorp. presently has an average rating of “Hold” and an average target price of $6.67.

First BanCorp. Company Profile

Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

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