Carlos Power Sells 5,277 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBPGet Free Report) EVP Carlos Power sold 5,277 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total transaction of $95,038.77. Following the transaction, the executive vice president now directly owns 255,236 shares of the company’s stock, valued at approximately $4,596,800.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First BanCorp. Stock Performance

NYSE FBP opened at $17.72 on Friday. First BanCorp. has a twelve month low of $11.10 and a twelve month high of $18.62. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.00 billion, a P/E ratio of 10.12, a PEG ratio of 1.44 and a beta of 1.16. The company’s 50-day simple moving average is $17.49 and its 200 day simple moving average is $16.70.

First BanCorp. (NYSE:FBPGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. The company had revenue of $302.49 million for the quarter, compared to analyst estimates of $229.19 million. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. During the same period in the prior year, the company posted $0.39 EPS. As a group, research analysts forecast that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.61%. First BanCorp.’s payout ratio is presently 36.57%.

Institutional Investors Weigh In On First BanCorp.

Several large investors have recently made changes to their positions in FBP. Vanguard Group Inc. boosted its position in First BanCorp. by 2.0% in the first quarter. Vanguard Group Inc. now owns 22,414,701 shares of the bank’s stock valued at $393,154,000 after buying an additional 448,845 shares in the last quarter. FMR LLC increased its holdings in First BanCorp. by 4.3% during the 3rd quarter. FMR LLC now owns 12,288,893 shares of the bank’s stock valued at $165,408,000 after purchasing an additional 505,003 shares in the last quarter. Dimensional Fund Advisors LP raised its position in First BanCorp. by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,096,761 shares of the bank’s stock valued at $166,095,000 after purchasing an additional 65,021 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in First BanCorp. by 3.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 3,150,506 shares of the bank’s stock worth $51,826,000 after purchasing an additional 116,642 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of First BanCorp. by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,084,199 shares of the bank’s stock worth $28,053,000 after purchasing an additional 52,384 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FBP. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Wells Fargo & Company upped their target price 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.

Read Our Latest Report on First BanCorp.

About First BanCorp.

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for First BanCorp. (NYSE:FBP)

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