Mutual of America Capital Management LLC Sells 1,048 Shares of First BanCorp. (NYSE:FBP)

Mutual of America Capital Management LLC cut its holdings in shares of First BanCorp. (NYSE:FBP) by 3.4% in the 4th quarter, Holdings Channel reports. The firm owned 30,201 shares of the bank’s stock after selling 1,048 shares during the period. Mutual of America Capital Management LLC’s holdings in First BanCorp. were worth $497,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of First BanCorp. during the 3rd quarter worth $138,000. AXQ Capital LP acquired a new position in First BanCorp. during the 3rd quarter worth approximately $186,000. Versor Investments LP acquired a new position in shares of First BanCorp. during the third quarter worth $197,000. Advisor Partners II LLC increased its holdings in First BanCorp. by 4.8% in the 3rd quarter. Advisor Partners II LLC now owns 17,010 shares of the bank’s stock worth $229,000 after purchasing an additional 780 shares in the last quarter. Finally, Vest Financial LLC bought a new position in First BanCorp. in the fourth quarter valued at about $235,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insiders Place Their Bets

In other First BanCorp. news, EVP Michael Mcdonald sold 57,600 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $17.34, for a total transaction of $998,784.00. Following the transaction, the executive vice president now directly owns 98,501 shares in the company, valued at approximately $1,708,007.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other First BanCorp. news, EVP Nayda Rivera sold 15,000 shares of First BanCorp. stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $17.12, for a total value of $256,800.00. Following the completion of the sale, the executive vice president now directly owns 246,930 shares of the company’s stock, valued at $4,227,441.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Michael Mcdonald sold 57,600 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $17.34, for a total transaction of $998,784.00. Following the transaction, the executive vice president now owns 98,501 shares in the company, valued at approximately $1,708,007.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,600 shares of company stock worth $2,278,784. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FBP shares. Wells Fargo & Company upped their price objective on First BanCorp. from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th.

First BanCorp. Trading Down 0.4 %

FBP opened at $17.16 on Wednesday. The stock has a market cap of $2.91 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.44. First BanCorp. has a twelve month low of $10.18 and a twelve month high of $17.70. The company has a fifty day moving average of $16.90 and a 200-day moving average of $15.92.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Wednesday, January 24th. The bank reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $299.09 million during the quarter, compared to the consensus estimate of $227.75 million. First BanCorp. had a return on equity of 21.62% and a net margin of 26.19%. During the same period last year, the business posted $0.40 EPS. On average, sell-side analysts predict that First BanCorp. will post 1.66 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 22nd. This represents a $0.64 annualized dividend and a yield of 3.73%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.14. First BanCorp.’s dividend payout ratio (DPR) is currently 37.65%.

About First BanCorp.

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. 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.