Engineers Gate Manager LP lifted its position in First BanCorp. (NYSE:FBP) by 65.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,959 shares of the bank’s stock after acquiring an additional 111,479 shares during the quarter. Engineers Gate Manager LP owned 0.13% of First BanCorp. worth $1,439,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of First BanCorp. by 9.8% in the 2nd quarter. BlackRock Inc. now owns 19,334,736 shares of the bank’s stock worth $111,947,000 after acquiring an additional 1,721,947 shares during the last quarter. Vanguard Group Inc. lifted its holdings in First BanCorp. by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,613,136 shares of the bank’s stock valued at $90,400,000 after buying an additional 1,027,469 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in First BanCorp. by 7.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock valued at $59,974,000 after buying an additional 860,841 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in First BanCorp. by 11.4% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 10,598,957 shares of the bank’s stock valued at $54,267,000 after buying an additional 1,083,233 shares in the last quarter. Finally, FMR LLC lifted its holdings in First BanCorp. by 10.0% during the 2nd quarter. FMR LLC now owns 7,918,617 shares of the bank’s stock valued at $45,849,000 after buying an additional 718,217 shares in the last quarter. Hedge funds and other institutional investors own 90.37% of the company’s stock.

Shares of First BanCorp. (NYSE FBP) traded up $0.06 on Tuesday, reaching $5.09. 1,540,200 shares of the company were exchanged, compared to its average volume of 1,620,626. First BanCorp. has a one year low of $4.48 and a one year high of $7.05. The company has a market cap of $1,087.36, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

A number of equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of First BanCorp. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Zacks Investment Research lowered shares of First BanCorp. from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Citigroup decreased their price objective on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, November 20th. Bank of America decreased their price objective on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $7.50 price objective on shares of First BanCorp. in a report on Friday, November 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.50.

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About First BanCorp.

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

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