90,614 Shares in First BanCorp. (NYSE:FBP) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in shares of First BanCorp. (NYSE:FBP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 90,614 shares of the bank’s stock, valued at approximately $1,685,000. Dynamic Technology Lab Private Ltd owned about 0.06% of First BanCorp. at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of First BanCorp. by 104.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,250 shares of the bank’s stock worth $1,572,000 after acquiring an additional 37,856 shares during the last quarter. Verition Fund Management LLC bought a new stake in First BanCorp. during the third quarter worth about $257,000. Paloma Partners Management Co purchased a new position in shares of First BanCorp. in the 3rd quarter worth about $315,000. Centiva Capital LP increased its position in shares of First BanCorp. by 134.5% during the 3rd quarter. Centiva Capital LP now owns 25,417 shares of the bank’s stock valued at $538,000 after purchasing an additional 14,577 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of First BanCorp. by 3.9% during the 3rd quarter. State Street Corp now owns 9,193,684 shares of the bank’s stock valued at $194,630,000 after buying an additional 347,271 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Price Performance

Shares of First BanCorp. stock opened at $17.10 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. First BanCorp. has a one year low of $16.25 and a one year high of $22.40. The business’s 50 day simple moving average is $19.44 and its two-hundred day simple moving average is $19.83. The stock has a market capitalization of $2.80 billion, a P/E ratio of 9.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP) last issued its earnings results on Thursday, January 23rd. The bank reported $0.46 EPS 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 business earned $0.46 EPS. Analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.18 per share. 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 dividend yield of 4.21%. The ex-dividend date of this dividend was Friday, February 21st. First BanCorp.’s dividend payout ratio is currently 39.78%.

Insider Buying and Selling

In related news, EVP Carlos Power sold 10,321 shares of the company’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 transaction of $214,160.75. Following the completion of the transaction, the executive vice president now owns 176,222 shares in the company, valued at $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target 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. Keefe, Bruyette & Woods increased their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued 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.

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.