10,291 Shares in First BanCorp. (NYSE:FBP) Acquired by AXQ Capital LP

AXQ Capital 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 10,291 shares of the bank’s stock, valued at approximately $191,000.

A number of other institutional investors also recently bought and sold shares of FBP. Natixis Advisors LLC raised its stake in shares of First BanCorp. by 4.3% during the 3rd quarter. Natixis Advisors LLC now owns 50,528 shares of the bank’s stock worth $1,070,000 after buying an additional 2,068 shares during the last quarter. Pathstone Holdings LLC increased its holdings in First BanCorp. by 0.9% during the 3rd quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank’s stock valued at $3,393,000 after acquiring an additional 1,435 shares in the last quarter. Citigroup Inc. raised its position in First BanCorp. by 10.7% during the third quarter. Citigroup Inc. now owns 339,438 shares of the bank’s stock worth $7,186,000 after acquiring an additional 32,825 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its holdings in shares of First BanCorp. by 11.9% in the third quarter. Advantage Alpha Capital Partners LP now owns 24,653 shares of the bank’s stock valued at $522,000 after purchasing an additional 2,630 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of First BanCorp. by 104.0% in the third quarter. BNP Paribas Financial Markets now owns 74,250 shares of the bank’s stock valued at $1,572,000 after purchasing an additional 37,856 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FBP. Keefe, Bruyette & Woods upped their target price on First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company reduced their price objective on 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

First BanCorp. Stock Up 1.1 %

FBP stock opened at $19.07 on Tuesday. The company has a 50 day moving average price of $19.59 and a two-hundred day moving average price of $19.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $3.12 billion, a P/E ratio of 10.53, a PEG ratio of 1.34 and a beta of 1.12. First BanCorp. has a one year low of $16.25 and a one year high of $22.40.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 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 period in the prior year, the company earned $0.46 earnings per share. As a group, sell-side analysts expect that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.18 per share. The ex-dividend date was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.78%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio is currently 39.78%.

Insider Transactions at First BanCorp.

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 shares were 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 of the company’s stock, valued at approximately $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

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.