First Bancorp (NYSE:FBP), saw an insider alter his exposure to the company. President and CEO Aurelio Aleman bought 2,735 shares of common stock at an average price of $5.23 per share. Following this transaction, Aleman now directly holds 502,947 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 $1.08 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.