First BanCorp. (NYSE:FBP) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its stake in First BanCorp. (NYSE:FBPFree Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,654,425 shares of the bank’s stock after selling 66,684 shares during the quarter. Schroder Investment Management Group owned about 0.96% of First BanCorp. worth $27,215,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of First BanCorp. by 5.7% in the 3rd quarter. New York State Common Retirement Fund now owns 70,048 shares of the bank’s stock valued at $943,000 after acquiring an additional 3,748 shares during the period. Swiss National Bank increased its stake in First BanCorp. by 1.0% during the 3rd quarter. Swiss National Bank now owns 395,300 shares of the bank’s stock worth $5,321,000 after buying an additional 3,800 shares during the period. Charles Schwab Investment Management Inc. increased its stake in First BanCorp. by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,084,199 shares of the bank’s stock worth $28,053,000 after buying an additional 52,384 shares during the period. State Board of Administration of Florida Retirement System increased its stake in First BanCorp. by 14.4% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 208,646 shares of the bank’s stock worth $2,808,000 after buying an additional 26,192 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in First BanCorp. during the 3rd quarter worth $138,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

First BanCorp. Price Performance

FBP opened at $17.12 on Tuesday. The company has a 50-day moving average of $17.49 and a 200-day moving average of $16.82. The company has a market capitalization of $2.90 billion, a P/E ratio of 9.78, a PEG ratio of 1.42 and a beta of 1.13. First BanCorp. has a 1-year low of $11.80 and a 1-year high of $18.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 0.77.

First BanCorp. (NYSE:FBPGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. The business had revenue of $302.49 million during the quarter, compared to analyst estimates of $229.19 million. During the same period in the previous year, the business posted $0.39 EPS. Equities analysts expect that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, May 30th. First BanCorp.’s dividend payout ratio (DPR) is presently 36.57%.

Analyst Upgrades and Downgrades

FBP has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company boosted their target price on shares of First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th.

View Our Latest Research Report on FBP

Insider Activity

In other news, EVP Carlos Power sold 5,277 shares of First BanCorp. stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total value of $95,038.77. Following the completion of the transaction, the executive vice president now directly owns 255,236 shares of the company’s stock, valued at approximately $4,596,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Carlos Power sold 5,277 shares of First BanCorp. stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total value of $95,038.77. Following the completion of the transaction, the executive vice president now directly owns 255,236 shares of the company’s stock, valued at approximately $4,596,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Crespo Luz sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.47, for a total transaction of $164,700.00. Following the transaction, the director now directly owns 50,055 shares of the company’s stock, valued at $824,405.85. The disclosure for this sale can be found here. In the last three months, insiders sold 90,277 shares of company stock valued at $1,603,739. Company insiders own 2.50% of the company’s stock.

First BanCorp. Company Profile

(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.

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Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

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