First BanCorp. (NYSE:FBP) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in shares of First BanCorp. (NYSE:FBP) by 51.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,880 shares of the bank’s stock after selling 20,090 shares during the quarter. Everence Capital Management Inc.’s holdings in First BanCorp. were worth $351,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FBP. State Street Corp boosted its holdings in shares of First BanCorp. by 3.9% during the third quarter. State Street Corp now owns 9,193,684 shares of the bank’s stock worth $194,630,000 after purchasing an additional 347,271 shares during the last quarter. LSV Asset Management boosted its stake in First BanCorp. by 22.9% in the 2nd quarter. LSV Asset Management now owns 1,619,842 shares of the bank’s stock worth $29,627,000 after buying an additional 301,443 shares during the last quarter. Barclays PLC grew its holdings in First BanCorp. by 106.1% in the 3rd quarter. Barclays PLC now owns 367,445 shares of the bank’s stock valued at $7,779,000 after buying an additional 189,148 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of First BanCorp. during the 3rd quarter valued at about $2,607,000. Finally, Geode Capital Management LLC lifted its holdings in shares of First BanCorp. by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,386,606 shares of the bank’s stock worth $92,879,000 after acquiring an additional 112,432 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 Nayda Rivera sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $21.19, for a total transaction of $529,750.00. Following the completion of the sale, the executive vice president now owns 236,490 shares in the company, valued at $5,011,223.10. This trade represents a 9.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

First BanCorp. Stock Down 0.8 %

Shares of First BanCorp. stock opened at $18.47 on Tuesday. The company has a fifty day moving average price of $20.00 and a 200 day moving average price of $20.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36. First BanCorp. has a twelve month low of $15.15 and a twelve month high of $22.40. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 1.82 and a beta of 1.14.

First BanCorp. (NYSE:FBP) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $234.57 million for the quarter, compared to the consensus estimate of $238.51 million. First BanCorp. had a return on equity of 19.91% and a net margin of 24.94%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities research analysts forecast that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.47%. First BanCorp.’s dividend payout ratio (DPR) is presently 35.36%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler dropped their price target on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Hovde Group cut their target price on First BanCorp. from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company cut their price objective on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, First BanCorp. has a consensus rating of “Moderate Buy” and an average target price of $22.20.

First BanCorp. 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.