Victory Capital Management Inc. Has $23.15 Million Stock Holdings in First BanCorp. (NYSE:FBP)

Victory Capital Management Inc. grew its position in First BanCorp. (NYSE:FBPGet Rating) by 10.3% during the 1st quarter, HoldingsChannel reports. The firm owned 1,757,049 shares of the bank’s stock after purchasing an additional 163,481 shares during the quarter. Victory Capital Management Inc.’s holdings in First BanCorp. were worth $23,154,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc. acquired a new stake in First BanCorp. in the fourth quarter worth $1,656,000. PDT Partners LLC bought a new stake in shares of First BanCorp. during the fourth quarter worth $147,000. Advisor Partners LLC bought a new stake in shares of First BanCorp. during the fourth quarter worth $161,000. Raffles Associates LP bought a new stake in shares of First BanCorp. during the fourth quarter worth $3,691,000. Finally, Dupont Capital Management Corp increased its position in shares of First BanCorp. by 8.5% during the first quarter. Dupont Capital Management Corp now owns 32,573 shares of the bank’s stock worth $427,000 after acquiring an additional 2,544 shares in the last quarter. 92.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FBP. Piper Sandler lowered their price objective on shares of First BanCorp. to $16.00 in a research report on Monday, July 4th. StockNews.com downgraded shares of First BanCorp. from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd.

First BanCorp. Stock Down 1.7 %

First BanCorp. stock opened at $14.81 on Friday. The company has a market cap of $2.93 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.94 and a beta of 1.17. First BanCorp. has a 1-year low of $11.66 and a 1-year high of $16.62. The company has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $13.88. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.25.

First BanCorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 25th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Wednesday, August 24th. First BanCorp.’s dividend payout ratio (DPR) is currently 32.00%.

Insider Activity at First BanCorp.

In related news, EVP Nayda Rivera sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $15.00, for a total value of $300,000.00. Following the completion of the transaction, the executive vice president now owns 276,911 shares of the company’s stock, valued at $4,153,665. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other First BanCorp. news, Director Roberto R. Herencia sold 100,000 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.11, for a total value of $1,411,000.00. Following the completion of the sale, the director now owns 732,484 shares in the company, valued at $10,335,349.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nayda Rivera sold 20,000 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $15.00, for a total transaction of $300,000.00. Following the completion of the sale, the executive vice president now owns 276,911 shares of the company’s stock, valued at approximately $4,153,665. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,000 shares of company stock valued at $2,608,400. Corporate insiders own 2.10% of the company’s stock.

First BanCorp. Profile

(Get Rating)

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.

Featured Stories

Want to see what other hedge funds are holding FBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First BanCorp. (NYSE:FBPGet Rating).

Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

Receive News & Ratings for First BanCorp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First BanCorp. and related companies with MarketBeat.com's FREE daily email newsletter.