First BanCorp. (FBP) Stake Raised by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lifted its position in First BanCorp. (NYSE:FBP) by 113.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,271 shares of the bank’s stock after buying an additional 56,520 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in First BanCorp. were worth $544,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Thrivent Financial For Lutherans increased its position in shares of First BanCorp. by 2,805.9% in the second quarter. Thrivent Financial For Lutherans now owns 2,622,666 shares of the bank’s stock worth $15,186,000 after purchasing an additional 2,532,413 shares during the last quarter. BlackRock Inc. increased its position in shares of First BanCorp. by 9.8% in the second quarter. BlackRock Inc. now owns 19,334,736 shares of the bank’s stock worth $111,947,000 after purchasing an additional 1,721,947 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in First BanCorp. by 20.7% during the second quarter. Frontier Capital Management Co. LLC now owns 9,515,724 shares of the bank’s stock valued at $55,096,000 after acquiring an additional 1,634,175 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First BanCorp. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 10,852,681 shares of the bank’s stock valued at $62,837,000 after acquiring an additional 1,562,989 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in First BanCorp. by 206.0% during the second quarter. Teachers Advisors LLC now owns 2,024,376 shares of the bank’s stock valued at $11,721,000 after acquiring an additional 1,362,726 shares during the last quarter. 90.37% of the stock is currently owned by hedge funds and other institutional investors.

First BanCorp. (FBP) opened at $5.03 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1,089.52, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 2.71 and a beta of 1.92. First BanCorp. has a 52-week low of $4.48 and a 52-week high of $7.05.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and set a $7.50 price objective on shares of First BanCorp. in a research note on Friday, November 10th. ValuEngine lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. TheStreet lowered First BanCorp. from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. Finally, Bank of America dropped their price objective on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Two 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. The stock presently has a consensus rating of “Hold” and an average target price of $6.50.

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First BanCorp. Profile

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

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