Swiss National Bank Sells 1,800 Shares of First BanCorp. (NYSE:FBP)

Swiss National Bank trimmed its position in shares of First BanCorp. (NYSE:FBPGet Rating) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 484,400 shares of the bank’s stock after selling 1,800 shares during the period. Swiss National Bank owned about 0.25% of First BanCorp. worth $6,254,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its holdings in First BanCorp. by 121.0% during the 2nd quarter. Lazard Asset Management LLC now owns 8,785 shares of the bank’s stock valued at $113,000 after purchasing an additional 4,809 shares during the last quarter. Eqis Capital Management Inc. grew its holdings in First BanCorp. by 181.3% during the 2nd quarter. Eqis Capital Management Inc. now owns 48,180 shares of the bank’s stock valued at $622,000 after purchasing an additional 31,054 shares during the last quarter. Walleye Capital LLC bought a new position in First BanCorp. during the 2nd quarter valued at about $361,000. Y Intercept Hong Kong Ltd grew its holdings in First BanCorp. by 269.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 37,555 shares of the bank’s stock valued at $485,000 after purchasing an additional 27,377 shares during the last quarter. Finally, X Square Capital LLC grew its holdings in First BanCorp. by 7.3% during the 2nd quarter. X Square Capital LLC now owns 374,339 shares of the bank’s stock valued at $4,833,000 after purchasing an additional 25,349 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors.

Insider Transactions at First BanCorp.

In other news, EVP Nayda Rivera sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $15.81, for a total value of $316,200.00. Following the completion of the sale, the executive vice president now owns 231,948 shares of the company’s stock, valued at approximately $3,667,097.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

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

First BanCorp. Price Performance

Shares of FBP stock opened at $15.22 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $2.81 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.90 and a beta of 1.17. The company’s 50-day simple moving average is $14.93 and its two-hundred day simple moving average is $14.51. First BanCorp. has a one year low of $11.94 and a one year high of $16.62.

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

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.15%. First BanCorp.’s dividend payout ratio is currently 31.17%.

First BanCorp. Profile

(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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