Mutual of America Capital Management LLC grew its stake in First BanCorp. (NYSE:FBP – Get Rating) by 3.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 29,082 shares of the bank’s stock after buying an additional 986 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First BanCorp. were worth $382,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new stake in shares of First BanCorp. in the 4th quarter valued at $25,000. Strs Ohio bought a new stake in First BanCorp. during the 4th quarter valued at $30,000. Maverick Capital Ltd. bought a new stake in First BanCorp. during the 4th quarter valued at $41,000. Lazard Asset Management LLC raised its holdings in First BanCorp. by 700.7% in the 4th quarter. Lazard Asset Management LLC now owns 4,492 shares of the bank’s stock worth $61,000 after purchasing an additional 3,931 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in First BanCorp. in the 1st quarter worth $66,000. Hedge funds and other institutional investors own 92.81% of the company’s stock.
Analysts Set New Price Targets
FBP has been the subject of several research reports. StockNews.com lowered shares of First BanCorp. from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd. Piper Sandler cut their price objective on shares of First BanCorp. to $16.00 in a research report on Monday, July 4th.
First BanCorp. Stock Performance
FBP opened at $15.09 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.25. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.92 and a beta of 1.14. The company’s 50 day moving average is $13.98 and its 200 day moving average is $13.89. First BanCorp. has a 12-month low of $11.66 and a 12-month high of $16.62.
First BanCorp. (NYSE:FBP – Get Rating) last released its earnings results on Thursday, April 28th. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. First BanCorp. had a net margin of 33.00% and a return on equity of 16.29%. The company had revenue of $218.48 million for the quarter, compared to analysts’ expectations of $213.55 million. During the same quarter last year, the business earned $0.31 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that First BanCorp. will post 1.6 EPS for the current year.
First BanCorp. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Wednesday, August 24th. First BanCorp.’s payout ratio is currently 32.00%.
In related news, Director Roberto R. Herencia sold 100,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.11, for a total value of $1,411,000.00. Following the sale, the director now owns 732,484 shares in the company, valued at $10,335,349.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Aurelio Aleman sold 40,000 shares of First BanCorp. stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $15.00, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,137,159 shares in the company, valued at $17,057,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roberto R. Herencia sold 100,000 shares of the business’s stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $14.11, for a total transaction of $1,411,000.00. Following the completion of the transaction, the director now owns 732,484 shares of the company’s stock, valued at $10,335,349.24. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock worth $2,608,400 over the last quarter. Insiders own 2.10% of the company’s stock.
About First BanCorp.
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial services to retail, commercial, and institutional clients. The company operates in 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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