First BanCorp. (NYSE:FBP) shares fell 9.6% during trading on Wednesday . The stock traded as low as $4.91 and last traded at $4.97. 4,635,612 shares traded hands during mid-day trading, an increase of 246% from the average session volume of 1,338,730 shares. The stock had previously closed at $5.50.

Several brokerages have commented on FBP. BidaskClub upgraded shares of First BanCorp. from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Tuesday, August 1st.

The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 10.80 and a beta of 2.02. The company has a 50-day moving average of $5.64 and a 200 day moving average of $5.69.

First BanCorp. (NYSE:FBP) last released its earnings results on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. The business had revenue of $144.45 million during the quarter, compared to the consensus estimate of $145.55 million. During the same period last year, the company earned $0.10 earnings per share. Equities research analysts predict that First BanCorp. will post $0.47 earnings per share for the current fiscal year.

In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of First BanCorp. 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.10% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in FBP. Bank of Montreal Can lifted its position in shares of First BanCorp. by 1.6% during the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after purchasing an additional 316 shares during the last quarter. Amalgamated Bank lifted its position in shares of First BanCorp. by 36.3% during the second quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after purchasing an additional 5,989 shares during the last quarter. LS Investment Advisors LLC lifted its position in shares of First BanCorp. by 444.6% during the first quarter. LS Investment Advisors LLC now owns 25,674 shares of the bank’s stock worth $145,000 after purchasing an additional 20,960 shares during the last quarter. Pacad Investment Ltd. lifted its position in shares of First BanCorp. by 63.7% during the second quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in shares of First BanCorp. by 1.7% during the first quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock worth $150,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 91.05% of the company’s stock.

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First BanCorp. Company Profile

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