First BanCorp. (FBP) Shares Bought by Jacobs Asset Management LLC

Jacobs Asset Management LLC raised its stake in First BanCorp. (NYSE:FBP) by 34.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,003,703 shares of the bank’s stock after purchasing an additional 258,684 shares during the period. Jacobs Asset Management LLC owned 0.46% of First BanCorp. worth $5,139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in shares of First BanCorp. by 36.3% in the 2nd quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock valued at $130,000 after buying an additional 5,989 shares during the period. Bank of Montreal Can boosted its holdings in shares of First BanCorp. by 21.5% in the 2nd quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock valued at $139,000 after buying an additional 4,256 shares during the period. Pacad Investment Ltd. boosted its holdings in shares of First BanCorp. by 63.7% in the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock valued at $149,000 after buying an additional 10,000 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of First BanCorp. by 1.4% in the 2nd quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock valued at $151,000 after buying an additional 370 shares during the period. Finally, Profund Advisors LLC boosted its holdings in shares of First BanCorp. by 15.2% in the 2nd quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock valued at $178,000 after buying an additional 4,052 shares during the period. 90.37% of the stock is owned by institutional investors.

First BanCorp. (NYSE FBP) traded up $0.02 during midday trading on Thursday, hitting $5.02. 1,739,600 shares of the company were exchanged, compared to its average volume of 1,598,776. 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. The company has a market cap of $1,080.88, a P/E ratio of 10.42, a P/E/G ratio of 2.69 and a beta of 1.92.

A number of research firms have issued reports on FBP. ValuEngine raised shares of First BanCorp. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Zacks Investment Research lowered shares of First BanCorp. from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Citigroup reduced their price target on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, November 20th. Bank of America reduced their price target on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $7.50 price target on shares of First BanCorp. in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.50.

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First BanCorp. Company Profile

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

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