Zurcher Kantonalbank Zurich Cantonalbank Purchases 21,213 Shares of First BanCorp. (NYSE:FBP)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First BanCorp. (NYSE:FBP) by 52.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,797 shares of the bank’s stock after acquiring an additional 21,213 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First BanCorp. were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FBP. Amundi grew its holdings in First BanCorp. by 173.4% in the fourth quarter. Amundi now owns 87,309 shares of the bank’s stock worth $1,631,000 after purchasing an additional 55,379 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of First BanCorp. by 10.1% in the 4th quarter. Edgestream Partners L.P. now owns 367,258 shares of the bank’s stock worth $6,827,000 after purchasing an additional 33,651 shares in the last quarter. Raymond James Financial Inc. acquired a new position in First BanCorp. during the 4th quarter valued at about $439,000. Aigen Investment Management LP acquired a new position in First BanCorp. during the 4th quarter valued at about $481,000. Finally, Smartleaf Asset Management LLC raised its stake in First BanCorp. by 394.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank’s stock valued at $70,000 after buying an additional 3,032 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Stock Down 0.4 %

Shares of FBP stock opened at $18.35 on Thursday. First BanCorp. has a fifty-two week low of $16.25 and a fifty-two week high of $22.40. The firm has a market capitalization of $3.01 billion, a PE ratio of 10.14, a P/E/G ratio of 1.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The stock’s 50-day simple moving average is $19.57 and its 200-day simple moving average is $19.97.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same period in the prior year, the firm posted $0.46 EPS. Equities analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 3.92%. First BanCorp.’s payout ratio is currently 39.78%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FBP shares. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the completion of the transaction, the executive vice president now directly owns 176,222 shares of the company’s stock, valued at approximately $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by corporate insiders.

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.