Dupont Capital Management Corp Trims Stake in First BanCorp. (NYSE:FBP)

Dupont Capital Management Corp lowered its position in First BanCorp. (NYSE:FBPGet Rating) by 28.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,406 shares of the bank’s stock after selling 9,167 shares during the quarter. Dupont Capital Management Corp’s holdings in First BanCorp. were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of First BanCorp. by 2.3% in the first 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 during the period. State Street Corp raised its stake in shares of First BanCorp. by 8.7% in the first quarter. State Street Corp now owns 13,679,620 shares of the bank’s stock valued at $179,477,000 after acquiring an additional 1,097,862 shares during the period. FMR LLC raised its stake in shares of First BanCorp. by 15.4% in the second quarter. FMR LLC now owns 7,254,147 shares of the bank’s stock valued at $93,651,000 after acquiring an additional 968,081 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of First BanCorp. by 12.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,328,437 shares of the bank’s stock worth $30,549,000 after purchasing an additional 261,516 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of First BanCorp. by 60.9% in the second quarter. JPMorgan Chase & Co. now owns 1,795,398 shares of the bank’s stock worth $23,178,000 after purchasing an additional 679,333 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FBP shares. Wells Fargo & Company cut shares of First BanCorp. from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 15th. StockNews.com started coverage on shares of First BanCorp. in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Nayda Rivera sold 20,000 shares of the stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $15.81, for a total transaction of $316,200.00. Following the completion of the sale, the executive vice president now directly owns 231,948 shares of the company’s stock, valued at $3,667,097.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

First BanCorp. Stock Down 0.1 %

Shares of First BanCorp. stock opened at $13.24 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.69 and a quick ratio of 0.69. First BanCorp. has a 1 year low of $11.94 and a 1 year high of $16.62. The firm’s 50-day moving average is $13.97 and its two-hundred day moving average is $14.41. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 0.78 and a beta of 1.20.

First BanCorp. (NYSE:FBPGet Rating) last issued its earnings results on Tuesday, October 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. First BanCorp. had a net margin of 32.11% and a return on equity of 18.29%. The company had revenue of $239.60 million for the quarter, compared to analysts’ expectations of $237.86 million. During the same period in the prior year, the business earned $0.37 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, research analysts expect that First BanCorp. will post 1.6 earnings per share for the current fiscal year.

First BanCorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Friday, November 25th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, November 23rd. First BanCorp.’s payout ratio is 31.17%.

First BanCorp. Company 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.

Further Reading

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

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