Oregon Public Employees Retirement Fund lessened its holdings in shares of First BanCorp. (NYSE:FBP – Get Rating) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 62,432 shares of the bank's stock after selling 3,486 shares during the period. Oregon Public Employees Retirement Fund's holdings in First BanCorp. were worth $854,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ellevest Inc. increased its stake in First BanCorp. by 91.4% during the second quarter. Ellevest Inc. now owns 3,320 shares of the bank's stock valued at $43,000 after acquiring an additional 1,585 shares during the period. Strs Ohio grew its stake in shares of First BanCorp. by 177.3% in the 2nd quarter. Strs Ohio now owns 6,100 shares of the bank's stock valued at $78,000 after purchasing an additional 3,900 shares during the period. Lazard Asset Management LLC grew its stake in shares of First BanCorp. by 121.0% in the 2nd quarter. Lazard Asset Management LLC now owns 8,785 shares of the bank's stock valued at $113,000 after purchasing an additional 4,809 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of First BanCorp. by 8.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,410 shares of the bank's stock valued at $121,000 after purchasing an additional 730 shares during the period. Finally, Shay Capital LLC bought a new stake in shares of First BanCorp. in the 1st quarter valued at approximately $131,000. Institutional investors and hedge funds own 94.38% of the company's stock.
Get First BanCorp. alerts:First BanCorp. Price Performance
FBP opened at $13.21 on Wednesday. The company has a fifty day simple moving average of $13.66 and a 200 day simple moving average of $14.40. The stock has a market cap of $2.44 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.79 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.15. First BanCorp. has a 12 month low of $11.94 and a 12 month high of $16.40.
First BanCorp. (NYSE:FBP – Get Rating) last released its earnings results on Tuesday, October 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. The firm had revenue of $239.60 million during the quarter, compared to analysts' expectations of $237.86 million. First BanCorp. had a return on equity of 18.29% and a net margin of 32.11%. The company's revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, research analysts expect that First BanCorp. will post 1.6 EPS for the current year.First BanCorp. Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, November 23rd. First BanCorp.'s payout ratio is 31.17%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. StockNews.com assumed coverage on First BanCorp. in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. Wells Fargo & Company downgraded First BanCorp. from an "overweight" rating to an "equal weight" rating in a report on Thursday, December 15th.
Insider Activity
In related news, EVP Nayda Rivera sold 20,000 shares of the firm's stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $15.81, for a total value of $316,200.00. Following the completion of the sale, the executive vice president now directly owns 231,948 shares in the company, valued at approximately $3,667,097.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.
About First BanCorp.
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First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. 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.
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