First BanCorp. (NYSE:FBP) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of First BanCorp. (NYSE:FBP) by 57.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,131 shares of the bank’s stock after selling 135,422 shares during the period. Hsbc Holdings PLC owned about 0.06% of First BanCorp. worth $1,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in First BanCorp. during the fourth quarter worth approximately $32,590,000. Trexquant Investment LP purchased a new position in shares of First BanCorp. during the fourth quarter worth approximately $461,000. TD Asset Management Inc increased its holdings in shares of First BanCorp. by 7.0% in the 4th quarter. TD Asset Management Inc now owns 121,000 shares of the bank’s stock valued at $1,990,000 after acquiring an additional 7,900 shares during the period. TFO Wealth Partners LLC raised its position in First BanCorp. by 148,818.2% in the 4th quarter. TFO Wealth Partners LLC now owns 16,381 shares of the bank’s stock valued at $269,000 after purchasing an additional 16,370 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in First BanCorp. by 417.5% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 52,997 shares of the bank’s stock worth $872,000 after purchasing an additional 42,757 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First BanCorp.

In other First BanCorp. news, EVP Michael Mcdonald sold 1,944 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $21.51, for a total value of $41,815.44. Following the completion of the transaction, the executive vice president now directly owns 87,476 shares of the company’s stock, valued at $1,881,608.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other First BanCorp. news, COO Donald Kafka sold 50,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.81, for a total transaction of $1,090,500.00. Following the sale, the chief operating officer now directly owns 174,589 shares in the company, valued at $3,807,786.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Mcdonald sold 1,944 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.51, for a total value of $41,815.44. Following the completion of the sale, the executive vice president now directly owns 87,476 shares in the company, valued at approximately $1,881,608.76. The disclosure for this sale can be found here. Insiders sold 82,452 shares of company stock worth $1,790,066 over the last 90 days. Company insiders own 2.50% of the company’s stock.

First BanCorp. Stock Performance

NYSE FBP opened at $21.03 on Friday. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.45 and a beta of 1.10. The business’s 50 day moving average is $20.68 and its two-hundred day moving average is $18.69. First BanCorp. has a 12-month low of $12.72 and a 12-month high of $22.12. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a return on equity of 21.86% and a net margin of 25.91%. The firm had revenue of $304.28 million for the quarter, compared to analyst estimates of $230.26 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. Research analysts expect that First BanCorp. will post 1.76 EPS for the current year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.16 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.04%. First BanCorp.’s dividend payout ratio is presently 36.57%.

Analyst Ratings Changes

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

First BanCorp. Company Profile

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.