American Trust Sells 4,487 Shares of First BanCorp. (NYSE:FBP)

American Trust lessened its holdings in First BanCorp. (NYSE:FBP – Get Rating) by 12.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,558 shares of the bank’s stock after selling 4,487 shares during the quarter. American Trust’s holdings in First BanCorp. were worth $432,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its position in First BanCorp. by 14.5% during the 1st quarter. Citigroup Inc. now owns 198,317 shares of the bank’s stock valued at $2,603,000 after purchasing an additional 25,060 shares during the period. Natixis Advisors L.P. grew its position in First BanCorp. by 4.3% in the 1st quarter. Natixis Advisors L.P. now owns 31,779 shares of the bank’s stock valued at $417,000 after purchasing an additional 1,320 shares during the period. Bank of Montreal Can grew its position in First BanCorp. by 7.4% in the 1st quarter. Bank of Montreal Can now owns 67,649 shares of the bank’s stock valued at $893,000 after purchasing an additional 4,683 shares during the period. MetLife Investment Management LLC lifted its stake in First BanCorp. by 42.3% during the 1st quarter. MetLife Investment Management LLC now owns 99,028 shares of the bank’s stock valued at $1,299,000 after acquiring an additional 29,444 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in First BanCorp. by 11.9% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 173,994 shares of the bank’s stock valued at $2,283,000 after acquiring an additional 18,567 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

Insider Transactions at First BanCorp.

In other news, Director John A. Heffern acquired 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of $11.61 per share, with a total value of $34,830.00. Following the acquisition, the director now owns 84,895 shares in the company, valued at approximately $985,630.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

First BanCorp. Trading Up 3.3 %

NYSE FBP opened at $11.99 on Friday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.79 and a beta of 1.15. First BanCorp. has a one year low of $11.19 and a one year high of $16.40. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The business’s fifty day moving average is $13.62 and its 200-day moving average is $14.13.

First BanCorp. (NYSE:FBP – Get Rating) last released its earnings results on Friday, January 27th. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). First BanCorp. had a return on equity of 20.58% and a net margin of 31.85%. During the same period in the prior year, the firm earned $0.36 EPS. Equities research analysts predict that First BanCorp. will post 1.53 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, February 23rd. First BanCorp.’s payout ratio is presently 35.22%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FBP shares. Wells Fargo & Company cut First BanCorp. from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 15th. StockNews.com began coverage on First BanCorp. in a research note on Thursday. They set a “hold” rating on the stock.

First BanCorp. Company Profile

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First BanCorp (Puerto Rico) is a holding company, which engages in the provision of personal, commercial, and corporate banking services. It operates through the following segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.