FMR LLC Discloses 6.962% Stake in FIRST BANCORP /PR/
Ticker: FBP · Form: SC 13G · Filed: Feb 9, 2024 · CIK: 1057706
| Field | Detail |
|---|---|
| Company | First Bancorp /Pr/ (FBP) |
| Form Type | SC 13G |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, bank-stock
TL;DR
**FMR LLC just revealed a 6.962% stake in FIRST BANCORP /PR/, signaling a big institutional bet.**
AI Summary
FMR LLC, a major investment management firm, and its principal owner, Abigail P. Johnson, have reported a significant stake in FIRST BANCORP /PR/ (FBP). As of December 31, 2023, FMR LLC beneficially owns 12,013,815 shares, representing 6.962% of the company's common stock. This filing indicates a substantial, passive investment by a prominent institutional investor, suggesting confidence in the bank's long-term prospects.
Why It Matters
This filing shows a major institutional investor, FMR LLC, has a significant stake in FIRST BANCORP /PR/, which can be seen as a vote of confidence and may attract other investors.
Risk Assessment
Risk Level: low — This filing indicates a passive institutional investment, which generally carries low risk for existing shareholders as it doesn't suggest an activist agenda or immediate sale.
Analyst Insight
A smart investor would view this as a positive signal, indicating a large, reputable institutional investor sees value in FIRST BANCORP /PR/. It might warrant further research into the bank's fundamentals, but doesn't suggest immediate action beyond monitoring.
Key Numbers
- 12,013,815 — Shares Beneficially Owned (Total common stock shares of FIRST BANCORP /PR/ owned by FMR LLC and Abigail P. Johnson.)
- 6.962% — Percent of Class (The percentage of FIRST BANCORP /PR/ common stock owned by FMR LLC and Abigail P. Johnson.)
Key Players & Entities
- FMR LLC (company) — the reporting person and parent holding company
- FIRST BANCORP /PR/ (company) — the issuer of the securities
- Abigail P. Johnson (person) — reporting person, likely associated with FMR LLC
- 12,013,815 (dollar_amount) — shares beneficially owned by FMR LLC and Abigail P. Johnson
- 6.962% (dollar_amount) — percentage of class owned by FMR LLC and Abigail P. Johnson
Forward-Looking Statements
- FMR LLC will maintain its significant stake in FIRST BANCORP /PR/ for the foreseeable future. (FMR LLC) — medium confidence, target: 12-31-2024
- FIRST BANCORP /PR/ stock price will see a slight positive bump due to institutional confidence. (FIRST BANCORP /PR/) — low confidence, target: 03-31-2024
FAQ
Who is the primary reporting person in this SC 13G filing?
The primary reporting person in this SC 13G filing is FMR LLC, as stated in Item 1 of the filing.
What is the total number of shares of FIRST BANCORP /PR/ common stock beneficially owned by FMR LLC?
FMR LLC beneficially owns 12,013,815 shares of FIRST BANCORP /PR/ common stock, as indicated in Item 4(a) and Item 7 on the cover page for FMR LLC.
What percentage of FIRST BANCORP /PR/'s common stock does FMR LLC own?
FMR LLC owns 6.962% of FIRST BANCORP /PR/'s common stock, as stated in Item 4(b) and Item 11 on the cover page for FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and confirmed in Item 3.
Who is Abigail P. Johnson and what is her reported ownership in FIRST BANCORP /PR/?
Abigail P. Johnson is also listed as a reporting person. She beneficially owns 12,013,815 shares, representing 6.962% of FIRST BANCORP /PR/'s common stock, as shown in her respective Items 7 and 11 on the cover page.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding FIRST BANCORP /PR/ (FBP).