Louisiana State Employees Retirement System boosted its stake in shares of First BanCorp. (NYSE:FBP) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 64,000 shares of the bank’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in First BanCorp. were worth $371,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wetherby Asset Management Inc. purchased a new position in shares of First BanCorp. during the first quarter valued at about $104,000. Everence Capital Management Inc. purchased a new position in shares of First BanCorp. during the first quarter valued at about $107,000. Brandes Investment Partners LP increased its position in shares of First BanCorp. by 25.0% in the first quarter. Brandes Investment Partners LP now owns 19,506 shares of the bank’s stock valued at $110,000 after buying an additional 3,902 shares in the last quarter. Bank of Montreal Can increased its position in shares of 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 buying an additional 316 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of First BanCorp. by 444.6% in the first quarter. LS Investment Advisors LLC now owns 25,674 shares of the bank’s stock valued at $145,000 after buying an additional 20,960 shares in the last quarter. 86.34% of the stock is owned by hedge funds and other institutional investors.

Shares of First BanCorp. (FBP) traded down 0.17% during trading on Tuesday, reaching $5.72. 258,487 shares of the company traded hands. The stock has a market capitalization of $1.22 billion, a PE ratio of 12.43 and a beta of 2.01. First BanCorp. has a 12 month low of $4.51 and a 12 month high of $7.05. The company has a 50-day moving average of $5.85 and a 200-day moving average of $5.86.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. The business had revenue of $144.45 million during the quarter, compared to analysts’ expectations of $145.55 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. Analysts forecast that First BanCorp. will post $0.47 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on the stock. BidaskClub raised shares of First BanCorp. from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $7.00.

In related news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $5.66, for a total transaction of $56,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.10% of the company’s stock.

First BanCorp. Company Profile

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

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