First BanCorp. (NYSE:FBP) Shares Bought by First Trust Advisors LP

First Trust Advisors LP lifted its position in shares of First BanCorp. (NYSE:FBPFree Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,681,979 shares of the bank’s stock after purchasing an additional 89,837 shares during the quarter. First Trust Advisors LP owned 0.97% of First BanCorp. worth $27,669,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Rafferty Asset Management LLC boosted its holdings in First BanCorp. by 47.1% during the fourth quarter. Rafferty Asset Management LLC now owns 262,942 shares of the bank’s stock worth $4,325,000 after buying an additional 84,247 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of First BanCorp. by 417.5% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 52,997 shares of the bank’s stock valued at $872,000 after purchasing an additional 42,757 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in First BanCorp. by 148,818.2% in the 4th quarter. TFO Wealth Partners LLC now owns 16,381 shares of the bank’s stock worth $269,000 after purchasing an additional 16,370 shares during the period. TD Asset Management Inc boosted its position in First BanCorp. by 7.0% during the fourth quarter. TD Asset Management Inc now owns 121,000 shares of the bank’s stock worth $1,990,000 after purchasing an additional 7,900 shares in the last quarter. Finally, Prospector Partners LLC grew its holdings in First BanCorp. by 0.3% in the fourth quarter. Prospector Partners LLC now owns 477,975 shares of the bank’s stock valued at $7,863,000 after purchasing an additional 1,490 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Gonzalez Orlando Berges sold 75,000 shares of First BanCorp. stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $17.92, for a total transaction of $1,344,000.00. Following the transaction, the chief financial officer now owns 277,020 shares in the company, valued at $4,964,198.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Gonzalez Orlando Berges sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.92, for a total transaction of $1,344,000.00. Following the completion of the sale, the chief financial officer now directly owns 277,020 shares in the company, valued at $4,964,198.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Crespo Luz sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the sale, the director now directly owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The disclosure for this sale can be found here. Insiders sold 90,277 shares of company stock worth $1,603,739 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

FBP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company boosted their target price on shares of First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th.

Read Our Latest Analysis on FBP

First BanCorp. Stock Down 1.3 %

NYSE FBP opened at $17.12 on Tuesday. The business has a fifty day moving average price of $17.49 and a 200 day moving average price of $16.82. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 0.77. The company has a market cap of $2.90 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.42 and a beta of 1.13. First BanCorp. has a one year low of $11.80 and a one year high of $18.62.

First BanCorp. (NYSE:FBPGet Free Report) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The business had revenue of $302.49 million during the quarter, compared to analysts’ expectations of $229.19 million. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. During the same period in the prior year, the business earned $0.39 earnings per share. Research analysts anticipate that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, May 30th. First BanCorp.’s dividend payout ratio is currently 36.57%.

About First BanCorp.

(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.

See Also

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

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