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.

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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

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

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