16,129 Shares in First BanCorp. (NYSE:FBP) Bought by Duality Advisers LP

Duality Advisers LP acquired a new position in shares of First BanCorp. (NYSE:FBP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,129 shares of the bank’s stock, valued at approximately $265,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FBP. Strs Ohio raised its holdings in First BanCorp. by 206.3% during the fourth quarter. Strs Ohio now owns 4,900 shares of the bank’s stock worth $80,000 after purchasing an additional 3,300 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in First BanCorp. during the third quarter worth $138,000. AXQ Capital LP purchased a new position in First BanCorp. during the third quarter worth $186,000. Versor Investments LP purchased a new position in First BanCorp. during the third quarter worth $197,000. Finally, Mackenzie Financial Corp increased its position in First BanCorp. by 8.1% during the fourth quarter. Mackenzie Financial Corp now owns 12,511 shares of the bank’s stock worth $206,000 after buying an additional 942 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on FBP. Wells Fargo & Company raised their price target on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods raised their price target on First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday.

Insider Activity at First BanCorp.

In related news, Director Crespo Luz sold 10,000 shares of First BanCorp. stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.47, for a total value of $164,700.00. Following the transaction, the director now owns 50,055 shares in the company, valued at $824,405.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First BanCorp. news, EVP Michael Mcdonald sold 57,600 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $17.34, for a total transaction of $998,784.00. Following the transaction, the executive vice president now owns 98,501 shares in the company, valued at $1,708,007.34. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Crespo Luz sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.47, for a total value of $164,700.00. Following the transaction, the director now owns 50,055 shares in the company, valued at approximately $824,405.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,600 shares of company stock worth $2,278,784. 2.50% of the stock is owned by insiders.

First BanCorp. Price Performance

Shares of NYSE:FBP opened at $17.24 on Friday. The company has a market cap of $2.92 billion, a P/E ratio of 9.85, a P/E/G ratio of 1.58 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.45. First BanCorp. has a 52 week low of $10.18 and a 52 week high of $17.74. The business has a fifty day simple moving average of $16.95 and a 200-day simple moving average of $15.97.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.06. The business had revenue of $302.49 million during the quarter, compared to the consensus estimate of $229.19 million. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. During the same quarter in the previous year, the business earned $0.39 earnings per share. Equities research analysts forecast that First BanCorp. will post 1.69 EPS for the current year.

First BanCorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.16 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.71%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.14. First BanCorp.’s dividend payout ratio (DPR) is presently 36.57%.

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.