Yousif Capital Management LLC Sells 1,693 Shares of First BanCorp. (NYSE:FBP)

Yousif Capital Management LLC lowered its holdings in shares of First BanCorp. (NYSE:FBP) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 60,038 shares of the bank’s stock after selling 1,693 shares during the period. Yousif Capital Management LLC’s holdings in First BanCorp. were worth $1,151,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of First BanCorp. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 21,462,121 shares of the bank’s stock valued at $398,981,000 after purchasing an additional 63,304 shares in the last quarter. American Century Companies Inc. grew its position in First BanCorp. by 1.2% in the 4th quarter. American Century Companies Inc. now owns 6,724,074 shares of the bank’s stock valued at $125,001,000 after purchasing an additional 78,129 shares during the period. First Trust Advisors LP grew its holdings in shares of First BanCorp. by 42.8% during the fourth quarter. First Trust Advisors LP now owns 4,871,338 shares of the bank’s stock valued at $90,558,000 after buying an additional 1,460,789 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of First BanCorp. by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,462,862 shares of the bank’s stock worth $82,981,000 after purchasing an additional 76,256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of First BanCorp. by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,685,588 shares of the bank’s stock worth $49,926,000 after acquiring an additional 248,335 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

First BanCorp. Trading Down 1.4%

Shares of FBP stock opened at $19.33 on Wednesday. First BanCorp. has a 12-month low of $16.40 and a 12-month high of $22.40. The firm’s 50 day moving average is $19.75 and its 200 day moving average is $19.46. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.12 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.33 and a beta of 0.94.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. First BanCorp. had a return on equity of 18.22% and a net margin of 24.46%. The business had revenue of $248.13 million for the quarter, compared to the consensus estimate of $243.08 million. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. Research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, May 29th. First BanCorp.’s payout ratio is 39.13%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price target on First BanCorp. from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.80.

First BanCorp. Company Profile

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.