Principal Financial Group Inc. Acquires 66,658 Shares of First BanCorp. (NYSE:FBP)

Principal Financial Group Inc. lifted its holdings in shares of First BanCorp. (NYSE:FBPGet Rating) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,415,046 shares of the bank’s stock after buying an additional 66,658 shares during the quarter. Principal Financial Group Inc.’s holdings in First BanCorp. were worth $18,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ellevest Inc. grew its holdings in First BanCorp. by 91.4% in the 2nd quarter. Ellevest Inc. now owns 3,320 shares of the bank’s stock worth $43,000 after acquiring an additional 1,585 shares during the last quarter. Strs Ohio grew its holdings in First BanCorp. by 177.3% in the 2nd quarter. Strs Ohio now owns 6,100 shares of the bank’s stock worth $78,000 after acquiring an additional 3,900 shares during the last quarter. Lazard Asset Management LLC grew its holdings in First BanCorp. by 121.0% in the 2nd quarter. Lazard Asset Management LLC now owns 8,785 shares of the bank’s stock worth $113,000 after acquiring an additional 4,809 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in First BanCorp. by 8.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,410 shares of the bank’s stock worth $121,000 after acquiring an additional 730 shares during the last quarter. Finally, Shay Capital LLC bought a new stake in First BanCorp. in the 1st quarter worth $131,000. Institutional investors own 96.24% of the company’s stock.

Insider Transactions at First BanCorp.

In other news, EVP Nayda Rivera sold 20,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $15.81, for a total value of $316,200.00. Following the completion of the sale, the executive vice president now directly owns 231,948 shares of the company’s stock, valued at approximately $3,667,097.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of First BanCorp. in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

First BanCorp. Price Performance

Shares of First BanCorp. stock opened at $15.29 on Wednesday. The company’s fifty day simple moving average is $14.91 and its two-hundred day simple moving average is $14.51. First BanCorp. has a 12-month low of $11.94 and a 12-month high of $16.62. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.82 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17.

First BanCorp. (NYSE:FBPGet Rating) last posted its earnings results on Tuesday, October 25th. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. First BanCorp. had a net margin of 32.11% and a return on equity of 18.29%. The firm had revenue of $239.60 million during the quarter, compared to analysts’ expectations of $237.86 million. During the same period last year, the company posted $0.37 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that First BanCorp. will post 1.62 EPS for the current year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be given a $0.12 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.14%. First BanCorp.’s dividend payout ratio is 31.17%.

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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