Morgan Stanley Sells 147,863 Shares of First BanCorp. (FBP)
Morgan Stanley reduced its stake in First BanCorp. (NYSE:FBP) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 764,577 shares of the bank’s stock after selling 147,863 shares during the period. Morgan Stanley’s holdings in First BanCorp. were worth $4,321,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in First BanCorp. by 21.8% in the first quarter. Dimensional Fund Advisors LP now owns 9,289,692 shares of the bank’s stock valued at $52,486,000 after buying an additional 1,661,263 shares during the last quarter. Geode Capital Management LLC increased its position in First BanCorp. by 46.0% in the first quarter. Geode Capital Management LLC now owns 2,495,804 shares of the bank’s stock valued at $14,101,000 after buying an additional 786,084 shares during the last quarter. Vanguard Group Inc. increased its position in First BanCorp. by 27.6% in the first quarter. Vanguard Group Inc. now owns 14,585,667 shares of the bank’s stock valued at $82,408,000 after buying an additional 3,151,932 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in First BanCorp. during the first quarter valued at $4,136,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in First BanCorp. during the first quarter valued at $4,136,000. Hedge funds and other institutional investors own 86.06% of the company’s stock.
Shares of First BanCorp. (NYSE FBP) traded up 0.54% during trading on Friday, reaching $5.61. 1,769,919 shares of the company traded hands. First BanCorp. has a 52 week low of $4.28 and a 52 week high of $7.05. The company’s 50-day moving average price is $5.85 and its 200-day moving average price is $5.88. The company has a market capitalization of $1.20 billion, a P/E ratio of 12.20 and a beta of 2.01.
First BanCorp. (NYSE:FBP) last released its 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. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. The company had revenue of $144.45 million for the quarter, compared to analysts’ expectations of $145.55 million. During the same quarter last year, the business earned $0.10 EPS. Equities research analysts forecast that First BanCorp. will post $0.47 EPS for the current fiscal year.
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Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded 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. BidaskClub downgraded shares of First BanCorp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.00.
In other First BanCorp. news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. 21.10% of the stock is currently owned by company insiders.
About First BanCorp.
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