Handelsbanken Fonder AB Has $875,000 Stake in First BanCorp. (NYSE:FBP)

Handelsbanken Fonder AB increased its stake in shares of First BanCorp. (NYSE:FBP) by 32.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,331 shares of the bank’s stock after buying an additional 10,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in First BanCorp. were worth $875,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in First BanCorp. during the fourth quarter worth $36,000. SageView Advisory Group LLC bought a new stake in First BanCorp. during the first quarter worth $110,000. Perkins Coie Trust Co bought a new stake in First BanCorp. during the second quarter worth $146,000. Choreo LLC bought a new stake in First BanCorp. during the second quarter worth $207,000. Finally, Bailard Inc. bought a new stake in First BanCorp. during the second quarter worth $216,000. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. 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. Raymond James assumed coverage on First BanCorp. in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $21.00 price objective for the company. Wells Fargo & Company upped their price objective on First BanCorp. from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler assumed coverage on First BanCorp. in a research note on Monday, August 26th. They issued a “neutral” rating and a $22.00 price objective for the company. 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 has an average rating of “Moderate Buy” and a consensus target price of $22.20.

First BanCorp. Stock Up 2.9 %

FBP stock opened at $20.93 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.77. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.72 and a beta of 1.10. First BanCorp. has a fifty-two week low of $12.72 and a fifty-two week high of $22.12. The stock has a fifty day moving average of $20.49 and a 200-day moving average of $18.98.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $304.28 million during the quarter, compared to the consensus estimate of $230.26 million. First BanCorp. had a return on equity of 21.86% and a net margin of 25.91%. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, equities research analysts predict that First BanCorp. will post 1.76 earnings per share for the current year.

First BanCorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.06%. First BanCorp.’s payout ratio is 36.57%.

Insider Transactions at First BanCorp.

In related news, EVP Michael Mcdonald sold 1,944 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $21.51, for a total transaction of $41,815.44. Following the sale, the executive vice president now owns 87,476 shares of the company’s stock, valued at approximately $1,881,608.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Carlos Power sold 22,896 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $21.53, for a total transaction of $492,950.88. Following the sale, the executive vice president now owns 232,340 shares of the company’s stock, valued at approximately $5,002,280.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Mcdonald sold 1,944 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $21.51, for a total value of $41,815.44. Following the sale, the executive vice president now directly owns 87,476 shares in the company, valued at $1,881,608.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,452 shares of company stock worth $1,790,066. 2.50% of the stock is owned by company 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.