Versor Investments LP Invests $1.12 Million in First BanCorp. (NYSE:FBP)

Versor Investments LP purchased a new position in First BanCorp. (NYSE:FBP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 60,277 shares of the bank’s stock, valued at approximately $1,121,000.

Several other large investors have also recently modified their holdings of FBP. Gladius Capital Management LP purchased a new position in shares of First BanCorp. in the 3rd quarter worth about $25,000. R Squared Ltd purchased a new position in shares of First BanCorp. in the 4th quarter worth about $28,000. Blue Trust Inc. raised its position in shares of First BanCorp. by 5,054.5% in the 3rd quarter. Blue Trust Inc. now owns 1,701 shares of the bank’s stock worth $36,000 after purchasing an additional 1,668 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in First BanCorp. in the 3rd quarter worth about $66,000. Finally, KBC Group NV raised its position in First BanCorp. by 61.7% in the 4th quarter. KBC Group NV now owns 8,464 shares of the bank’s stock worth $157,000 after buying an additional 3,230 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FBP shares. Wells Fargo & Company decreased their target price on 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. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of First BanCorp. 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 transaction, the executive vice president now owns 176,222 shares of the company’s stock, valued at $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

First BanCorp. Trading Up 0.1 %

First BanCorp. stock opened at $19.26 on Friday. The business has a 50-day simple moving average of $19.62 and a two-hundred day simple moving average of $20.20. The company has a market cap of $3.16 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.34 and a beta of 1.14. First BanCorp. has a 52-week low of $16.24 and a 52-week high of $22.40. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34.

First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. During the same quarter in the prior year, the company posted $0.46 earnings per share. Analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.18 per share. This is an increase 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 3.74%. The ex-dividend date is Friday, February 21st. First BanCorp.’s payout ratio is currently 39.78%.

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.