Monument Capital Management Sells 3,727 Shares of First BanCorp. (NYSE:FBP)

Monument Capital Management trimmed its holdings in shares of First BanCorp. (NYSE:FBP) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,019 shares of the bank’s stock after selling 3,727 shares during the period. Monument Capital Management’s holdings in First BanCorp. were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in First BanCorp. during the 3rd quarter worth about $25,000. R Squared Ltd bought a new position in First BanCorp. during the 4th quarter worth about $28,000. Blue Trust Inc. grew its holdings in First BanCorp. by 5,054.5% during the 3rd quarter. Blue Trust Inc. now owns 1,701 shares of the bank’s stock worth $36,000 after acquiring an additional 1,668 shares in the last quarter. CWM LLC grew its holdings in First BanCorp. by 222.6% during the 3rd quarter. CWM LLC now owns 2,829 shares of the bank’s stock worth $60,000 after acquiring an additional 1,952 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in First BanCorp. during the 3rd quarter worth about $66,000. 97.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction 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. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.50% of the stock is currently owned by insiders.

First BanCorp. Stock Performance

Shares of First BanCorp. stock opened at $20.39 on Tuesday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 11.26, a PEG ratio of 1.41 and a beta of 1.14. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $19.62 and a 200 day moving average price of $20.21. First BanCorp. has a 52 week low of $16.24 and a 52 week 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, beating 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 last year, the company posted $0.46 earnings per share. Sell-side analysts expect that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.18 per share. The ex-dividend date is Friday, February 21st. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 3.53%. First BanCorp.’s dividend payout ratio (DPR) is currently 35.36%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler decreased their price target on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Hovde Group decreased their price target on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Keefe, Bruyette & Woods increased their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company decreased their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report 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. Based on data from MarketBeat, First BanCorp. presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

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.