First BanCorp. (FBP) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. lowered its holdings in First BanCorp. (NYSE:FBP) by 7.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,656,382 shares of the bank’s stock after selling 466,569 shares during the quarter. JPMorgan Chase & Co. owned 2.62% of First BanCorp. worth $32,751,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Louisiana State Employees Retirement System raised its position in First BanCorp. by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 64,000 shares of the bank’s stock valued at $371,000 after purchasing an additional 200 shares during the period. Bank of Montreal Can raised 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 purchasing an additional 316 shares during the period. LS Investment Advisors LLC raised its position in First BanCorp. by 1.4% in the second quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock valued at $151,000 after purchasing an additional 370 shares during the period. Arizona State Retirement System raised its position in First BanCorp. by 0.5% in the second quarter. Arizona State Retirement System now owns 81,972 shares of the bank’s stock valued at $475,000 after purchasing an additional 400 shares during the period. Finally, Profund Advisors LLC raised its position in First BanCorp. by 1.7% in the first quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock valued at $150,000 after purchasing an additional 436 shares during the period. Institutional investors own 91.05% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research report on Monday, June 19th. BidaskClub upgraded First BanCorp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th.
WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/09/17/first-bancorp-fbp-shares-sold-by-jpmorgan-chase-co.html.
Shares of First BanCorp. (NYSE FBP) opened at 5.73 on Friday. The firm has a 50-day moving average price of $5.67 and a 200-day moving average price of $5.71. The stock has a market cap of $1.23 billion, a P/E ratio of 12.46 and a beta of 2.02. First BanCorp. has a 52-week low of $4.68 and a 52-week high of $7.05.
First BanCorp. (NYSE:FBP) last issued 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 return on equity of 5.57% and a net margin of 15.17%. The company had revenue of $144.45 million for the quarter, compared to analyst estimates of $145.55 million. During the same quarter in the prior year, the company posted $0.10 EPS. On average, analysts anticipate that First BanCorp. will post $0.47 EPS for the current fiscal year.
In other First BanCorp. news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 21.10% of the company’s stock.
First BanCorp. Profile
Receive News & Stock Ratings for First BanCorp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First BanCorp. and related stocks with our FREE daily email newsletter.