First BanCorp. (NYSE:FBP) EVP Michael Mcdonald Sells 57,600 Shares of Stock

First BanCorp. (NYSE:FBPGet Free Report) EVP Michael Mcdonald sold 57,600 shares of First BanCorp. stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $17.34, for a total value of $998,784.00. Following the completion of the sale, the executive vice president now directly owns 98,501 shares in the company, valued at approximately $1,708,007.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

First BanCorp. Price Performance

FBP opened at $16.87 on Friday. The business has a fifty day moving average of $16.30 and a 200 day moving average of $14.88. First BanCorp. has a 52-week low of $10.18 and a 52-week high of $17.44. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.91 billion, a P/E ratio of 9.92, a PEG ratio of 1.45 and a beta of 1.17.

First BanCorp. (NYSE:FBPGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. First BanCorp. had a return on equity of 21.62% and a net margin of 26.19%. The company had revenue of $299.09 million during the quarter, compared to analysts’ expectations of $227.75 million. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts anticipate that First BanCorp. will post 1.62 EPS for the current year.

Hedge Funds Weigh In On First BanCorp.

A number of large investors have recently bought and sold shares of FBP. Vanguard Group Inc. lifted its holdings in shares of First BanCorp. by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 24,643,742 shares of the bank’s stock worth $323,327,000 after buying an additional 544,469 shares during the period. State Street Corp lifted its holdings in shares of First BanCorp. by 8.7% in the 1st quarter. State Street Corp now owns 13,679,620 shares of the bank’s stock worth $179,477,000 after buying an additional 1,097,862 shares during the period. FMR LLC lifted its holdings in shares of First BanCorp. by 4.3% in the 3rd quarter. FMR LLC now owns 12,288,893 shares of the bank’s stock worth $165,408,000 after buying an additional 505,003 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of First BanCorp. by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,096,761 shares of the bank’s stock worth $166,095,000 after buying an additional 65,021 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of First BanCorp. by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,497,173 shares of the bank’s stock worth $42,735,000 after buying an additional 54,223 shares during the period. Hedge funds and other institutional investors own 91.80% of the company’s stock.

Wall Street Analysts Forecast Growth

FBP has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on First BanCorp. from $12.50 to $13.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th.

Check Out Our Latest Analysis on First BanCorp.

First BanCorp. Company Profile

(Get Free Report)

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.

Further Reading

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