Allspring Global Investments Holdings LLC Sells 2,985 Shares of First BanCorp. (NYSE:FBP)

Allspring Global Investments Holdings LLC lessened its position in shares of First BanCorp. (NYSE:FBPGet Rating) by 8.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 34,471 shares of the bank’s stock after selling 2,985 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First BanCorp. were worth $471,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in First BanCorp. by 8.4% in the second quarter. Nisa Investment Advisors LLC now owns 9,410 shares of the bank’s stock worth $121,000 after purchasing an additional 730 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in First BanCorp. by 0.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 296,802 shares of the bank’s stock valued at $3,832,000 after buying an additional 906 shares in the last quarter. Meritage Portfolio Management raised its stake in First BanCorp. by 8.8% in the third quarter. Meritage Portfolio Management now owns 13,273 shares of the bank’s stock valued at $182,000 after buying an additional 1,074 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of First BanCorp. by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 220,154 shares of the bank’s stock worth $2,842,000 after acquiring an additional 1,111 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in shares of First BanCorp. by 1.5% during the first quarter. Engineers Gate Manager LP now owns 79,162 shares of the bank’s stock valued at $1,039,000 after acquiring an additional 1,152 shares in the last quarter. Institutional investors own 94.38% of the company’s stock.

First BanCorp. Trading Up 1.3 %

First BanCorp. stock opened at $13.53 on Tuesday. The stock has a 50-day moving average price of $13.70 and a 200 day moving average price of $14.40. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 0.79 and a beta of 1.20. First BanCorp. has a 52 week low of $11.94 and a 52 week high of $16.40. 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. (NYSE:FBPGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $239.60 million during the quarter, compared to analysts’ expectations of $237.86 million. First BanCorp. had a net margin of 32.11% and a return on equity of 18.29%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. Sell-side analysts anticipate that First BanCorp. will post 1.6 EPS for the current year.

First BanCorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Friday, November 25th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Wednesday, November 23rd. First BanCorp.’s payout ratio is 31.17%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

FBP has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of First BanCorp. in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wells Fargo & Company lowered shares of First BanCorp. from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 15th.

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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