Suntrust Banks Inc. held its position in shares of First BanCorp. (NYSE:FBP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,687 shares of the bank’s stock at the close of the 2nd quarter. Suntrust Banks Inc.’s holdings in First BanCorp. were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in 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 buying an additional 1,721,947 shares in the last quarter. Vanguard Group Inc. increased its holdings in First BanCorp. by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,613,136 shares of the bank’s stock worth $90,400,000 after buying an additional 1,027,469 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in First BanCorp. by 20.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 9,515,724 shares of the bank’s stock worth $55,096,000 after buying an additional 1,634,175 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First BanCorp. by 21.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,289,692 shares of the bank’s stock worth $52,486,000 after buying an additional 1,661,263 shares in the last quarter. Finally, FMR LLC increased its holdings in First BanCorp. by 10.0% in the 2nd quarter. FMR LLC now owns 7,918,617 shares of the bank’s stock worth $45,849,000 after buying an additional 718,217 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.

Shares of First BanCorp. (NYSE:FBP) opened at 4.79 on Friday. The firm’s 50 day moving average price is $5.28 and its 200-day moving average price is $5.58. The company has a market capitalization of $1.03 billion, a P/E ratio of 10.41 and a beta of 1.96. First BanCorp. has a 1-year low of $4.65 and a 1-year high of $7.05.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $144.45 million for the quarter, compared to analyst estimates of $145.55 million. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. During the same period in the prior year, the company earned $0.10 earnings per share. Analysts expect that First BanCorp. will post $0.46 EPS for the current year.

In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 21.10% of the stock is currently owned by corporate insiders.

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FBP has been the subject of several research analyst reports. BidaskClub downgraded First BanCorp. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded 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. Finally, ValuEngine upgraded First BanCorp. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.67.

First BanCorp. Profile

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

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