Barclays PLC increased its stake in shares of First BanCorp. (NYSE:FBP – Free Report) by 106.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 367,445 shares of the bank’s stock after acquiring an additional 189,148 shares during the period. Barclays PLC’s holdings in First BanCorp. were worth $7,779,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its stake 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 valued at $194,630,000 after purchasing an additional 347,271 shares during the period. LSV Asset Management grew its holdings in First BanCorp. by 22.9% during the 2nd quarter. LSV Asset Management now owns 1,619,842 shares of the bank’s stock valued at $29,627,000 after purchasing an additional 301,443 shares in the last quarter. Panagora Asset Management Inc. increased its stake in First BanCorp. by 55.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 656,855 shares of the bank’s stock worth $12,014,000 after buying an additional 235,156 shares during the period. Public Employees Retirement System of Ohio acquired a new position in First BanCorp. in the 3rd quarter worth $2,607,000. Finally, Intech Investment Management LLC boosted its position in First BanCorp. by 135.7% in the 3rd quarter. Intech Investment Management LLC now owns 192,012 shares of the bank’s stock valued at $4,065,000 after buying an additional 110,531 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.
Insider Activity
In other news, EVP Nayda Rivera sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the completion of the sale, the executive vice president now directly owns 236,490 shares of the company’s stock, valued at approximately $5,011,223.10. This represents a 9.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on FBP
First BanCorp. Price Performance
Shares of FBP opened at $19.45 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.82 and a beta of 1.12. First BanCorp. has a 52 week low of $15.15 and a 52 week high of $22.40. The stock has a 50 day moving average of $20.51 and a 200-day moving average of $19.97.
First BanCorp. (NYSE:FBP – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $234.57 million for the quarter, compared to analyst estimates of $238.51 million. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. First BanCorp.’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, analysts forecast that First BanCorp. will post 1.76 EPS for the current year.
First BanCorp. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.29%. First BanCorp.’s dividend payout ratio is presently 35.36%.
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.
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