American Century Companies Inc. Has $131.27 Million Holdings in First BanCorp. (NYSE:FBP)

American Century Companies Inc. boosted its stake in First BanCorp. (NYSE:FBP) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,177,206 shares of the bank’s stock after purchasing an additional 16,578 shares during the period. American Century Companies Inc. owned about 4.31% of First BanCorp. worth $131,271,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Private Wealth Management Group LLC acquired a new stake in shares of First BanCorp. in the fourth quarter valued at about $26,000. Neo Ivy Capital Management acquired a new stake in First BanCorp. during the 4th quarter valued at approximately $36,000. SageView Advisory Group LLC bought a new position in First BanCorp. during the 1st quarter worth approximately $110,000. Perkins Coie Trust Co acquired a new position in shares of First BanCorp. in the 2nd quarter worth approximately $146,000. Finally, Choreo LLC bought a new stake in shares of First BanCorp. in the 2nd quarter valued at $207,000. 97.91% of the stock is owned by institutional investors.

First BanCorp. Price Performance

FBP stock opened at $20.24 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.77 and a quick ratio of 0.76. The company’s 50-day moving average is $20.44 and its 200-day moving average is $18.47. The stock has a market capitalization of $3.32 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10. First BanCorp. has a 1 year low of $12.72 and a 1 year high of $22.12.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $304.28 million for the quarter, compared to analyst estimates of $230.26 million. First BanCorp. had a return on equity of 21.86% and a net margin of 25.91%. During the same quarter in the prior year, the company earned $0.37 earnings per share. Equities research 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 was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.16%. First BanCorp.’s dividend payout ratio (DPR) is presently 36.57%.

Insiders Place Their Bets

In other news, EVP Carlos Power sold 22,896 shares of First BanCorp. stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $21.53, for a total transaction of $492,950.88. Following the completion of the transaction, the executive vice president now directly owns 232,340 shares in the company, valued at $5,002,280.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Carlos Power sold 22,896 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $21.53, for a total value of $492,950.88. Following the transaction, the executive vice president now owns 232,340 shares of the company’s stock, valued at approximately $5,002,280.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Donald Kafka sold 50,000 shares of First BanCorp. stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.81, for a total value of $1,090,500.00. Following the transaction, the chief operating officer now owns 174,589 shares of the company’s stock, valued at approximately $3,807,786.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 82,452 shares of company stock worth $1,790,066. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Hovde Group lifted their target price on shares of First BanCorp. from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler assumed coverage on First BanCorp. in a research report on Monday, August 26th. They issued a “neutral” rating and a $22.00 price objective for the company. Raymond James initiated coverage on First BanCorp. in a research report on Tuesday, July 9th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on First BanCorp. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.83.

About First BanCorp.

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.