Stieven Capital Advisors L.P. lowered its holdings in First BanCorp. (NYSE:FBP) by 34.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,832,873 shares of the bank’s stock after selling 961,645 shares during the quarter. First BanCorp. accounts for about 1.8% of Stieven Capital Advisors L.P.’s investment portfolio, making the stock its 20th biggest holding. Stieven Capital Advisors L.P. owned 0.85% of First BanCorp. worth $9,384,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of First BanCorp. by 65,217.2% during the first quarter. BlackRock Inc. now owns 17,612,789 shares of the bank’s stock worth $99,514,000 after acquiring an additional 17,585,824 shares during the period. Vanguard Group Inc. lifted its position in First BanCorp. by 27.6% during the first quarter. Vanguard Group Inc. now owns 14,585,667 shares of the bank’s stock worth $82,408,000 after purchasing an additional 3,151,932 shares during the period. Thrivent Financial For Lutherans lifted its position in First BanCorp. by 2,805.9% during the second quarter. Thrivent Financial For Lutherans now owns 2,622,666 shares of the bank’s stock worth $15,186,000 after purchasing an additional 2,532,413 shares during the period. State Street Corp lifted its position in First BanCorp. by 68.8% during the first quarter. State Street Corp now owns 5,827,914 shares of the bank’s stock worth $32,935,000 after purchasing an additional 2,376,148 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in First BanCorp. by 20.7% during the second quarter. Frontier Capital Management Co. LLC now owns 9,515,724 shares of the bank’s stock worth $55,096,000 after purchasing an additional 1,634,175 shares during the period. Institutional investors own 90.37% of the company’s stock.
First BanCorp. (FBP) traded down $0.01 during midday trading on Friday, reaching $5.03. The company had a trading volume of 6,946,734 shares, compared to its average volume of 2,050,479. The stock has a market cap of $1,087.36, a price-to-earnings ratio of 10.48, a P/E/G ratio of 2.71 and a beta of 1.92. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. First BanCorp. has a twelve month low of $4.48 and a twelve month high of $7.05.
Several research analysts have recently issued reports on the company. ValuEngine raised First BanCorp. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research cut First BanCorp. from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Citigroup lowered their price target on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Monday, November 20th. Bank of America lowered their price target on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $7.50 price target on shares of First BanCorp. in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.50.
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About First BanCorp.
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