Jump Financial LLC Acquires New Position in First BanCorp. (NYSE:FBP)

Jump Financial LLC purchased a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,050 shares of the bank's stock, valued at approximately $317,000.

Several other institutional investors also recently bought and sold shares of the business. XTX Topco Ltd lifted its holdings in shares of First BanCorp. by 44.2% during the 4th quarter. XTX Topco Ltd now owns 16,341 shares of the bank's stock valued at $304,000 after acquiring an additional 5,006 shares in the last quarter. Barclays PLC lifted its stake in shares of First BanCorp. by 2.1% during the fourth quarter. Barclays PLC now owns 375,327 shares of the bank's stock worth $6,977,000 after purchasing an additional 7,882 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in shares of First BanCorp. by 5.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 16,935 shares of the bank's stock worth $315,000 after buying an additional 815 shares during the period. Sterling Capital Management LLC grew its stake in shares of First BanCorp. by 806.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock valued at $88,000 after buying an additional 4,191 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of First BanCorp. during the 4th quarter valued at about $217,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FBP shares. Wells Fargo & Company boosted their price objective on shares of First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.80.

First BanCorp. Stock Performance

Shares of NYSE FBP traded up $0.44 during midday trading on Friday, hitting $20.26. 125,210 shares of the company's stock were exchanged, compared to its average volume of 1,241,293. First BanCorp. has a twelve month low of $16.40 and a twelve month high of $22.40. The firm has a market cap of $3.30 billion, a P/E ratio of 11.19, a PEG ratio of 1.34 and a beta of 0.90. The stock's 50 day moving average price is $18.57 and its 200-day moving average price is $19.53. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. The company had revenue of $248.13 million for the quarter, compared to analyst estimates of $243.08 million. During the same period last year, the company earned $0.44 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Thursday, May 29th. First BanCorp.'s dividend payout ratio (DPR) is presently 39.13%.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 45,797 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $20.77, for a total value of $951,203.69. Following the completion of the sale, the executive vice president now owns 186,543 shares in the company, valued at $3,874,498.11. This represents a 19.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% 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.