First BanCorp. (NYSE:FBP) Holdings Trimmed by Natixis Advisors LLC

Natixis Advisors LLC reduced its position in shares of First BanCorp. (NYSE:FBP) by 16.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,164 shares of the bank’s stock after selling 8,364 shares during the quarter. Natixis Advisors LLC’s holdings in First BanCorp. were worth $784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its stake in shares of First BanCorp. by 3.9% in the 3rd 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. Assenagon Asset Management S.A. acquired a new position in First BanCorp. in the fourth quarter worth approximately $4,792,000. Barclays PLC increased its holdings in shares of First BanCorp. by 106.1% in the third 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of First BanCorp. during the 3rd quarter valued at $2,607,000. Finally, Geode Capital Management LLC lifted its position 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 valued at $92,879,000 after acquiring an additional 112,432 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FBP shares. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Two equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.40.

First BanCorp. Price Performance

FBP opened at $19.44 on Thursday. The firm has a market capitalization of $3.19 billion, a P/E ratio of 10.74, a PEG ratio of 1.34 and a beta of 1.12. The stock has a fifty day moving average of $19.60 and a 200-day moving average of $19.90. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. First BanCorp. has a 12-month low of $16.25 and a 12-month high of $22.40.

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

First BanCorp. Increases Dividend

The business also recently disclosed 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 3.70%. First BanCorp.’s payout ratio is presently 39.78%.

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 dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the transaction, the executive vice president now owns 176,222 shares in the company, valued at $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company’s stock.

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.