American Trust Buys 4,562 Shares of First BanCorp. (NYSE:FBP)

American Trust boosted its stake in shares of First BanCorp. (NYSE:FBPGet Rating) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,734 shares of the bank’s stock after purchasing an additional 4,562 shares during the period. American Trust’s holdings in First BanCorp. were worth $364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBP. HighTower Advisors LLC lifted its position in First BanCorp. by 2.8% during the fourth quarter. HighTower Advisors LLC now owns 41,471 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,120 shares during the period. Teacher Retirement System of Texas raised its position in First BanCorp. by 16.7% in the fourth quarter. Teacher Retirement System of Texas now owns 40,080 shares of the bank’s stock worth $552,000 after acquiring an additional 5,742 shares during the period. TD Asset Management Inc. bought a new position in First BanCorp. in the fourth quarter worth approximately $1,656,000. Citigroup Inc. raised its position in First BanCorp. by 31.5% in the fourth quarter. Citigroup Inc. now owns 173,257 shares of the bank’s stock worth $2,387,000 after acquiring an additional 41,524 shares during the period. Finally, Qube Research & Technologies Ltd raised its position in First BanCorp. by 7.6% in the fourth quarter. Qube Research & Technologies Ltd now owns 18,388 shares of the bank’s stock worth $253,000 after acquiring an additional 1,297 shares during the period. Institutional investors own 96.24% of the company’s stock.

Insider Activity at First BanCorp.

In related news, EVP Nayda Rivera sold 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $16.16, for a total transaction of $161,600.00. Following the completion of the transaction, the executive vice president now directly owns 256,911 shares of the company’s stock, valued at $4,151,681.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Aurelio Aleman sold 40,000 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $15.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,137,159 shares of the company’s stock, valued at $17,057,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nayda Rivera sold 10,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $16.16, for a total transaction of $161,600.00. Following the transaction, the executive vice president now owns 256,911 shares of the company’s stock, valued at approximately $4,151,681.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,000 shares of company stock valued at $2,141,000. Corporate insiders own 2.10% of the company’s stock.

First BanCorp. Stock Performance

Shares of NYSE FBP opened at $14.43 on Friday. The firm has a fifty day moving average price of $14.70 and a 200-day moving average price of $13.94. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $2.71 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 0.90 and a beta of 1.17. First BanCorp. has a 1 year low of $11.66 and a 1 year high of $16.62.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 25th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, August 24th. This represents a $0.48 annualized dividend and a yield of 3.33%. First BanCorp.’s payout ratio is 32.00%.

Wall Street Analyst Weigh In

FBP has been the topic of several recent research reports. Piper Sandler decreased their price target on shares of First BanCorp. to $16.00 in a research report on Monday, July 4th. StockNews.com downgraded shares of First BanCorp. from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd.

First BanCorp. Company Profile

(Get Rating)

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. 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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Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

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