Dynamic Technology Lab Private Ltd Decreases Holdings in First BanCorp. (FBP)

Dynamic Technology Lab Private Ltd lessened its holdings in First BanCorp. (NYSE:FBP) by 28.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,151 shares of the bank’s stock after selling 11,542 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in First BanCorp. were worth $169,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new stake in shares of First BanCorp. in the 2nd quarter valued at $1,036,000. Schwab Charles Investment Management Inc. lifted its stake in shares of First BanCorp. by 6.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,895,617 shares of the bank’s stock valued at $10,711,000 after purchasing an additional 120,993 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of First BanCorp. by 2.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,242,829 shares of the bank’s stock valued at $7,196,000 after purchasing an additional 27,262 shares during the last quarter. Rock Point Advisors LLC lifted its stake in shares of First BanCorp. by 3.6% in the 2nd quarter. Rock Point Advisors LLC now owns 949,705 shares of the bank’s stock valued at $5,499,000 after purchasing an additional 32,630 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of First BanCorp. by 24.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 90,253 shares of the bank’s stock valued at $510,000 after purchasing an additional 17,750 shares during the last quarter. 91.10% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently commented on the stock. ValuEngine downgraded shares of First BanCorp. from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. BidaskClub downgraded shares of First BanCorp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of First BanCorp. from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.67.

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In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the firm’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 accessible through this link. Company insiders own 21.10% of the company’s stock.

About First BanCorp.

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

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