Diversified Trust Co Buys 3,507 Shares of First BanCorp. (NYSE:FBP)

Diversified Trust Co grew its stake in First BanCorp. (NYSE:FBP) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,474 shares of the bank’s stock after purchasing an additional 3,507 shares during the quarter. Diversified Trust Co’s holdings in First BanCorp. were worth $604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FBP. Los Angeles Capital Management LLC grew its position in shares of First BanCorp. by 5.3% in the second quarter. Los Angeles Capital Management LLC now owns 56,040 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 2,814 shares during the last quarter. Choreo LLC bought a new position in First BanCorp. during the 2nd quarter worth $207,000. Texas Permanent School Fund Corp lifted its holdings in shares of First BanCorp. by 41.9% during the second quarter. Texas Permanent School Fund Corp now owns 209,088 shares of the bank’s stock worth $3,824,000 after buying an additional 61,701 shares in the last quarter. Vest Financial LLC boosted its position in shares of First BanCorp. by 24.8% in the second quarter. Vest Financial LLC now owns 62,772 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 12,455 shares during the period. Finally, Westover Capital Advisors LLC acquired a new position in shares of First BanCorp. in the second quarter valued at about $616,000. Institutional investors own 97.91% of the company’s stock.

Insider Activity at First BanCorp.

In other news, EVP Nayda Rivera sold 25,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $21.19, for a total transaction of $529,750.00. Following the completion of the transaction, the executive vice president now directly owns 236,490 shares in the company, valued at approximately $5,011,223.10. This represents a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by insiders.

First BanCorp. Stock Down 2.6 %

NYSE FBP opened at $18.19 on Friday. The business has a fifty day moving average price of $19.93 and a two-hundred day moving average price of $20.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.78 and a quick ratio of 0.78. First BanCorp. has a fifty-two week low of $15.15 and a fifty-two week high of $22.40. The stock has a market capitalization of $2.98 billion, a PE ratio of 10.05, a PEG ratio of 1.79 and a beta of 1.12.

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

First BanCorp. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, November 29th. First BanCorp.’s dividend payout ratio (DPR) is presently 35.36%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Keefe, Bruyette & Woods increased their price target on First BanCorp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler dropped their price objective on First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Hovde Group reduced their target price on First BanCorp. from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.20.

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.