First Bancorp (NYSE:FBP), saw an insider alter his exposure to the company through a transaction that followed a recent trend. President and CEO Aurelio Aleman bought 2,753 shares of common stock at an average price of $5.2 per share, the second time he’s purchased 2,735 shares of stock in the past two months. Following this transaction, Aleman now directly holds 514,127 shares in the company.
First Bancorp (NYSE:FBP) is a service provider of financial services and products with operations in Puerto Rico, the United States and the United States and British Virgin Islands with a $1.12 billion market cap. The Company specializes in commercial banking, residential mortgage loan originations, finance leases, personal loans, small loans, auto loans, insurance agency and broker-dealer activities.
In addition, there is one hedge fund in particular with a very large amount of holdings invested in First Bancorp (NYSE:FBP). Oaktree Capital Management, the hedge fund run by Howard Marks, showed no activity last quarter as it reported a 0% change in it’s exposure, and now holds 41,843,581 shares worth about $227.6 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.