State Board of Administration of Florida Retirement System Sells 12,396 Shares of First BanCorp. (NYSE:FBP)

State Board of Administration of Florida Retirement System lowered its position in First BanCorp. (NYSE:FBPGet Rating) by 6.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 181,731 shares of the bank’s stock after selling 12,396 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of First BanCorp. worth $2,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBP. American Century Companies Inc. grew its stake in First BanCorp. by 40.0% in the first quarter. American Century Companies Inc. now owns 8,539,292 shares of the bank’s stock worth $112,036,000 after purchasing an additional 2,441,703 shares in the last quarter. State Street Corp grew its stake in First BanCorp. by 8.7% in the first quarter. State Street Corp now owns 13,679,620 shares of the bank’s stock worth $179,477,000 after purchasing an additional 1,097,862 shares in the last quarter. Renaissance Technologies LLC bought a new stake in First BanCorp. during the 1st quarter valued at $10,473,000. First Trust Advisors LP boosted its position in First BanCorp. by 389.8% during the 1st quarter. First Trust Advisors LP now owns 904,256 shares of the bank’s stock valued at $11,864,000 after acquiring an additional 719,644 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in First BanCorp. by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 24,643,742 shares of the bank’s stock valued at $323,327,000 after acquiring an additional 544,469 shares in the last quarter. Institutional investors own 96.24% of the company’s stock.

Insider Activity

In other news, EVP Nayda Rivera sold 5,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $77,000.00. Following the completion of the sale, the executive vice president now owns 251,948 shares in the company, valued at approximately $3,879,999.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

First BanCorp. Stock Up 0.8 %

Shares of NYSE FBP opened at $15.36 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.84 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.17. The stock’s fifty day simple moving average is $14.83 and its two-hundred day simple moving average is $14.47. First BanCorp. has a 12-month low of $11.94 and a 12-month high of $16.62.

First BanCorp. (NYSE:FBPGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. First BanCorp. had a return on equity of 18.29% and a net margin of 32.11%. The firm had revenue of $239.60 million during the quarter, compared to analyst estimates of $237.86 million. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that First BanCorp. will post 1.62 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.13%. First BanCorp.’s dividend payout ratio is presently 31.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on First BanCorp. in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

About First BanCorp.

(Get Rating)

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

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

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