Comerica Bank Acquires 26,921 Shares of First BanCorp. (FBP)

Comerica Bank increased its holdings in shares of First BanCorp. (NYSE:FBP) by 16.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,868 shares of the bank’s stock after acquiring an additional 26,921 shares during the quarter. Comerica Bank owned about 0.09% of First BanCorp. worth $946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank boosted its holdings in 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 purchasing an additional 5,989 shares during the last quarter. Bank of Montreal Can boosted its holdings in 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 purchasing an additional 4,256 shares during the last quarter. Pacad Investment Ltd. boosted its holdings in 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 purchasing an additional 10,000 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in 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 purchasing an additional 370 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in 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 purchasing an additional 4,052 shares during the last quarter. Hedge funds and other institutional investors own 90.37% of the company’s stock.

FBP has been the topic of several recent analyst reports. ValuEngine upgraded shares of First BanCorp. from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of First BanCorp. from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Citigroup reduced their price target on shares of First BanCorp. from $7.00 to $6.00 and set a “neutral” rating on the stock 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 on the stock in a research note on Wednesday, November 8th. Finally, TheStreet downgraded shares of First BanCorp. from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.50.

First BanCorp. (NYSE FBP) traded down $0.05 during trading on Tuesday, hitting $5.03. 3,067,100 shares of the stock were exchanged, compared to its average volume of 1,597,504. The stock has a market cap of $1,098.17, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.92. First BanCorp. has a twelve month low of $4.48 and a twelve month high of $7.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

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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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