BlackRock Amends FIRST BANCORP Stake, Signals Portfolio Adjustment

Ticker: FBP · Form: SC 13G/A · Filed: 2024-01-22T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, portfolio-update

TL;DR

**BlackRock updated its stake in FIRST BANCORP, signaling a portfolio rebalance.**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, indicating a change in its ownership stake in FIRST BANCORP /PR/ as of December 31, 2023. This amendment, number 10, updates their previous disclosures regarding their holdings of FIRST BANCORP's Common Stock. This matters to investors because BlackRock is a major institutional investor, and changes in their holdings can signal shifts in their confidence in the company's future performance, potentially influencing other investors' decisions.

Why It Matters

Large institutional investors like BlackRock often conduct extensive due diligence; their buying or selling activity can be seen as a vote of confidence or concern, influencing market perception and stock price.

Risk Assessment

Risk Level: low — This filing is a routine update from a large institutional investor and does not inherently indicate significant risk for the company or its shareholders.

Analyst Insight

Investors should monitor subsequent filings from BlackRock or other major institutions for FIRST BANCORP to identify any significant trends in institutional ownership, which could provide insights into the stock's future direction.

Key Players & Entities

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'Amendment No: 10' in the filing.

Who is the reporting person in this filing?

The reporting person is BlackRock, Inc., as stated under '(1)Names of reporting persons. BlackRock, Inc.' in the filing.

What is the name of the issuer whose securities are being reported?

The issuer is FIRST BANCORP, as specified under '(Name of Issuer) FIRST BANCORP' in the filing.

What was the date of the event that required this filing?

The date of the event which required this filing was December 31, 2023, as stated under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.

What is the title of the class of securities being reported?

The title of the class of securities being reported is Common Stock, as indicated under '(Title of Class of Securities) Common Stock' in the filing.

From the Filing

EDGAR Filing Documents for 0001086364-24-001087 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-001087 Filing Date 2024-01-22 Accepted 2024-01-22 15:52:11 Documents 1 Document Format Files Seq Description Document Type Size 1 pr3186727065_012224.txt SC 13G/A 11628 Complete submission text file 0001086364-24-001087.txt 13455 Mailing Address 1519 PONCE DE LEON AVE PO BOX 9146 SAN JUAN PR 00908-0146 Business Address 1519 PONCE DE LEON AVE SANTURCE SAN JUAN PR 00908-0146 7877298200 FIRST BANCORP /PR/ (Subject) CIK : 0001057706 (see all company filings) EIN. : 660561882 | State of Incorp.: PR | Fiscal Year End: 1231 Type: SC 13G/A | Act: 34 | File No.: 005-54677 | Film No.: 24548707 SIC : 6022 State Commercial Banks (CF Office: 02 Finance) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)

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