First Bancorp (NYSE:FBP) is next on the list, with Oaktree Capital Management also having no activity in this stock over the fourth quarter, maintaining a stake of 41.84 million shares valued at $245.62 million at the end of 2014. The position accounted for 2.62% of the fund’s equity portfolio. Meanwhile, the stock price rose by about 23.6% in the fourth quarter of 2014 and it has risen by about 30% in the last 12 months.
FirstBank, the second largest bank in Puerto Rico and a subsidiary of First BanCorp, announced the acquisition of Doral Bank in alliance with Banco Popular de Puerto Rico, in which FirstBank acquired 10 branches. The transaction also includes about $600 million in deposits and a mortgage loan portfolio of $300 million. On March 12, the firm revised its earnings for the fourth quarter and year ended December 31, 2014, which were previously announced during a February 5, 2015 earnings release. The bank posted earnings of $330.8 million for the fourth quarter and on a per-share basis the company reported earnings of $1.56 per diluted share. The revised net income for the year ended December 31, 2014 amounted to $392.3 million, or $1.87 per diluted share.
Emanuel J. Friedman’s EJF Capital was the second-largest shareholder of First Bancorp (NYSE:FBP), holding 4.60 million shares, down by 42% from the previous quarter. The value of the stake amounted to $26.99 million. Another prominent investor with a large position in terms of percentage of its portfolio was William Black’s Consector Capital, with a position of 2.98 million shares, representing 8.02% of its equity portfolio.
Finally, Eagle Bulk Shipping Inc (NASDAQ:EGLE) completes the list, with Mr. Marks holding a position of 14.3 million shares at the end of 2014. The fund’s stake had a market value of $209.74 million and accounted for 2.24% of Oaktree’s equity portfolio. Since October 16 when it emerged from its financial restructuring, through to the end of the year, Eagle Bulk Shipping Inc (NASDAQ:EGLE)’s stock lost about 7.2%, while Mr. Marks didn’t have any activity according to the latest filing. Additionally, Eagle Bulk Shipping Inc (NASDAQ:EGLE)’s shares have lost over 37.0% of their market value in 2015.
Earlier this month, the company’s chief executive officer, Sophocles Zoullas, abruptly resigned from all positions at the company and will be succeeded as CEO by Stanley Ryan, a member of the board. Apart from Mr. Marks, the largest shareholder of Eagle Bulk Shipping Inc (NASDAQ:EGLE) was Joshua Friedman and Mitchell Julis’ Canyon Capital Advisors, as it reported holding 4.74 million shares valued at $69.47 million, an increase of 5,280% to its position during the fourth quarter.
Disclosure: None
