361 Capital LLC Buys 277,481 Shares of First BanCorp. (NYSE:FBP)

361 Capital LLC lifted its stake in First BanCorp. (NYSE:FBP) by 472.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 336,219 shares of the bank’s stock after buying an additional 277,481 shares during the period. 361 Capital LLC owned approximately 0.16% of First BanCorp. worth $1,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in First BanCorp. by 323.5% during the third quarter. SG Americas Securities LLC now owns 61,116 shares of the bank’s stock worth $313,000 after purchasing an additional 46,685 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in First BanCorp. by 14.6% during the third quarter. Russell Investments Group Ltd. now owns 404,281 shares of the bank’s stock worth $2,070,000 after purchasing an additional 51,400 shares during the last quarter. Comerica Bank lifted its stake in First BanCorp. by 16.3% during the third quarter. Comerica Bank now owns 191,868 shares of the bank’s stock worth $946,000 after purchasing an additional 26,921 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in First BanCorp. by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 3,653,928 shares of the bank’s stock worth $18,708,000 after purchasing an additional 163,090 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in First BanCorp. by 10.7% during the third quarter. Rhumbline Advisers now owns 344,526 shares of the bank’s stock worth $1,764,000 after purchasing an additional 33,260 shares during the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

FBP has been the subject of several recent analyst reports. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Thursday, October 12th. TheStreet cut First BanCorp. from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. Bank of America lowered their price target on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. ValuEngine upgraded shares of First BanCorp. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $7.50 price target on shares of First BanCorp. in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. First BanCorp. presently has an average rating of “Hold” and a consensus target price of $6.50.

First BanCorp. (NYSE:FBP) traded down $0.05 during midday trading on Monday, reaching $5.03. The company had a trading volume of 3,067,138 shares, compared to its average volume of 1,597,504. The firm has a market capitalization of $1,098.17, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.92. First BanCorp. has a 1-year low of $4.48 and a 1-year high of $7.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

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About First BanCorp.

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

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