Texas Permanent School Fund Cuts Holdings in First BanCorp. (NYSE:FBP)

Texas Permanent School Fund decreased its stake in shares of First BanCorp. (NYSE:FBPGet Rating) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 135,197 shares of the bank’s stock after selling 8,066 shares during the period. Texas Permanent School Fund’s holdings in First BanCorp. were worth $1,849,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Eqis Capital Management Inc. increased its holdings in shares of First BanCorp. by 2.5% in the 3rd quarter. Eqis Capital Management Inc. now owns 49,361 shares of the bank’s stock valued at $675,000 after acquiring an additional 1,181 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of First BanCorp. in the 3rd quarter valued at about $1,228,000. National Bank of Canada FI increased its holdings in shares of First BanCorp. by 18.9% in the 3rd quarter. National Bank of Canada FI now owns 115,732 shares of the bank’s stock valued at $1,577,000 after acquiring an additional 18,432 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of First BanCorp. in the 3rd quarter valued at about $1,121,000. Finally, Captrust Financial Advisors increased its holdings in shares of First BanCorp. by 5.2% in the 2nd quarter. Captrust Financial Advisors now owns 23,150 shares of the bank’s stock valued at $299,000 after acquiring an additional 1,153 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Insider Activity at First BanCorp.

In other First BanCorp. news, EVP Nayda Rivera sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $15.40, for a total transaction of $77,000.00. Following the completion of the sale, the executive vice president now directly owns 251,948 shares of the company’s stock, valued at approximately $3,879,999.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.

First BanCorp. Stock Down 0.8 %

Shares of NYSE FBP opened at $13.06 on Wednesday. The stock has a market cap of $2.41 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.15. First BanCorp. has a 52-week low of $11.94 and a 52-week high of $16.62. The business has a 50-day moving average price of $14.08 and a 200 day moving average price of $14.41.

First BanCorp. (NYSE:FBPGet Rating) last announced its earnings results on Tuesday, October 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $239.60 million during the quarter, compared to analysts’ expectations of $237.86 million. First BanCorp. had a return on equity of 18.29% and a net margin of 32.11%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Equities research analysts forecast that First BanCorp. will post 1.6 earnings per share for the current year.

First BanCorp. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Friday, November 25th were given a $0.12 dividend. The ex-dividend date was Wednesday, November 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.68%. First BanCorp.’s dividend payout ratio (DPR) is presently 31.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FBP shares. StockNews.com started coverage on First BanCorp. in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company downgraded First BanCorp. from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 15th.

About First BanCorp.

(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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