First BanCorp. (NYSE:FBP) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC cut its stake in shares of First BanCorp. (NYSE:FBP) by 57.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,512 shares of the bank’s stock after selling 139,997 shares during the period. Kennedy Capital Management LLC owned approximately 0.06% of First BanCorp. worth $1,961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of First BanCorp. during the fourth quarter valued at about $28,000. Picton Mahoney Asset Management boosted its holdings in First BanCorp. by 48.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank’s stock valued at $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. grew its stake in First BanCorp. by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank’s stock valued at $42,000 after purchasing an additional 542 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in First BanCorp. during the 3rd quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC increased its holdings in First BanCorp. by 394.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank’s stock worth $70,000 after purchasing an additional 3,032 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Price Performance

Shares of NYSE FBP opened at $17.87 on Tuesday. The business has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $19.65. First BanCorp. has a twelve month low of $16.25 and a twelve month high of $22.40. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34.

First BanCorp. (NYSE:FBP) last released its earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share 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 quarter last year, the business earned $0.46 earnings per share. As a group, equities research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a yield of 4.03%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio (DPR) is currently 39.78%.

Analyst Upgrades and Downgrades

FBP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company upgraded shares of First BanCorp. from an “equal weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the sale, the executive vice president now directly owns 176,222 shares in the company, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their ownership of the stock. 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.

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.