First BanCorp. (FBP) Stake Held by Oaktree Capital Group Holdings Gp, LLC
Oaktree Capital Group Holdings Gp, LLC
stated that they own 4.7% of First BanCorp. (NYSE:FBP) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, August 9th. The investor owns 10,051,733 shares of the stock worth about $55,284,532. The reporting parties listed on the disclosure included Oaktree Principal Fund V (Delaware), LP, Oaktree Fund GP, LLC (1), Oaktree Fund GP I, LP (1), Oaktree Capital I, LP (1), OCM Holdings I, LLC (1), Oaktree Holdings, LLC (1), Oaktree Capital Group, LLC (1), Oaktree Capital Group Holdings GP, LLC (1), Oaktree FF Investment Fund AIF (Delaware), LP, Oaktree Fund AIF Series, LP — Series I (1), Oaktree Fund GP AIF, LLC (1), Oaktree Fund GP III, LP (1), Oaktree AIF Investments, LP (1), Oaktree AIF Holdings, Inc (1), Oaktree Capital Group Holdings, LP (1), Ocm Fie, LLC, Oaktree Holdings, Inc (1) and Oaktree Capital Management, LP (1). The disclosure is available through EDGAR at this link.
Oaktree Capital Group Holdings Gp, LLC
provided the following explanation of their ownership:
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Several other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in First BanCorp. during the fourth quarter valued at approximately $10,760,000. Teachers Advisors LLC increased its position in First BanCorp. by 114.1% in the fourth quarter. Teachers Advisors LLC now owns 575,716 shares of the bank’s stock valued at $3,805,000 after buying an additional 306,824 shares during the period. Bank of Montreal Can increased its position in First BanCorp. by 1.6% in the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock valued at $112,000 after buying an additional 316 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of First BanCorp. during the first quarter valued at about $173,000. Finally, Louisiana State Employees Retirement System increased its stake in shares of First BanCorp. by 17.7% in the first quarter. Louisiana State Employees Retirement System now owns 63,800 shares of the bank’s stock valued at $360,000 after buying an additional 9,600 shares during the period. 86.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of First BanCorp. (FBP) traded up 0.92% during trading on Friday, hitting $5.50. The stock had a trading volume of 1,040,575 shares. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 11.96 and a beta of 2.01. The firm’s 50-day moving average is $5.85 and its 200 day moving average is $5.84. First BanCorp. has a 52-week low of $4.51 and a 52-week high of $7.05.
First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.13 earnings per share 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 firm had revenue of $144.45 million during the quarter, compared to analysts’ expectations of $145.55 million. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts expect that First BanCorp. will post $0.47 EPS for the current year.
Several analysts recently issued reports on the company. BidaskClub raised 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 $6.75 price target for the company in a report on Thursday, April 27th.
In related news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.10% of the stock is currently owned by corporate insiders.
First BanCorp. Company Profile
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