American Century Companies Inc. Increases Stock Position in First BanCorp. (NYSE:FBP)

American Century Companies Inc. lifted its holdings in shares of First BanCorp. (NYSE:FBP) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,724,074 shares of the bank’s stock after purchasing an additional 78,129 shares during the period. American Century Companies Inc. owned about 4.10% of First BanCorp. worth $125,001,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Intech Investment Management LLC increased its position in First BanCorp. by 267.2% during the fourth quarter. Intech Investment Management LLC now owns 705,075 shares of the bank’s stock worth $13,107,000 after buying an additional 513,063 shares in the last quarter. State Street Corp boosted 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 acquiring an additional 347,271 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in First BanCorp. during the 4th quarter worth about $4,792,000. Barclays PLC raised its stake in First BanCorp. by 106.1% in the 3rd quarter. Barclays PLC now owns 367,445 shares of the bank’s stock valued at $7,779,000 after purchasing an additional 189,148 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in First BanCorp. by 124.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 322,119 shares of the bank’s stock valued at $5,988,000 after purchasing an additional 178,660 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

First BanCorp. Trading Up 2.5 %

NYSE FBP opened at $18.82 on Monday. The company has a market cap of $3.08 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.34 and a beta of 1.12. First BanCorp. has a 12 month low of $16.25 and a 12 month high of $22.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50-day moving average of $19.58 and a 200-day moving average of $19.92.

First BanCorp. (NYSE:FBP) last issued its quarterly 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 quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts predict that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.18 dividend. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Friday, February 21st. First BanCorp.’s dividend payout ratio (DPR) is 39.78%.

Insider Activity at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the transaction, the executive vice president now directly owns 176,222 shares in the company, valued at $3,656,606.50. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lowered 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 report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.40.

First BanCorp. 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.