Point72 Hong Kong Ltd Takes Position in First BanCorp. (NYSE:FBP)

Point72 Hong Kong Ltd acquired a new position in First BanCorp. (NYSE:FBP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 27,105 shares of the bank's stock, valued at approximately $504,000.

Several other large investors have also recently modified their holdings of the stock. Picton Mahoney Asset Management increased its holdings in shares of First BanCorp. by 48.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after buying an additional 514 shares during the period. Blue Trust Inc. increased its stake in shares of First BanCorp. by 31.9% in the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock worth $42,000 after purchasing an additional 542 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of First BanCorp. by 17.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank's stock worth $68,000 after purchasing an additional 544 shares in the last quarter. Quantinno Capital Management LP increased its stake in First BanCorp. by 6.1% in the 4th quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank's stock worth $235,000 after buying an additional 730 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings 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 purchasing an additional 815 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FBP. Keefe, Bruyette & Woods boosted their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price on First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, First BanCorp. currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

First BanCorp. Stock Performance

Shares of NYSE:FBP traded down $0.07 on Thursday, reaching $20.28. The company's stock had a trading volume of 374,865 shares, compared to its average volume of 1,093,752. The stock has a market capitalization of $3.28 billion, a P/E ratio of 11.21, a PEG ratio of 1.34 and a beta of 0.93. First BanCorp. has a 52-week low of $16.40 and a 52-week high of $22.40. The stock's 50-day moving average is $19.13 and its two-hundred day moving average is $19.59. 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 data on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The business had revenue of $248.13 million during the quarter, compared to analysts' expectations of $243.08 million. During the same period last year, the company posted $0.44 EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Dividend Announcement

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

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.