Aquatic Capital Management LLC Takes Position in First BanCorp. (NYSE:FBP)

Aquatic Capital Management LLC bought a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 48,462 shares of the bank's stock, valued at approximately $901,000.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of First BanCorp. by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 98,810 shares of the bank's stock valued at $1,837,000 after purchasing an additional 22,012 shares in the last quarter. Principal Financial Group Inc. grew its holdings in First BanCorp. by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock valued at $17,216,000 after buying an additional 37,432 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of First BanCorp. during the fourth quarter valued at about $4,792,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First BanCorp. by 52.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock worth $1,149,000 after buying an additional 21,213 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of First BanCorp. in the fourth quarter valued at approximately $420,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Price Performance

First BanCorp. stock traded up $0.51 during mid-day trading on Friday, hitting $20.33. 915,249 shares of the company traded hands, compared to its average volume of 1,084,628. The stock has a fifty day moving average price of $18.59 and a 200-day moving average price of $19.51. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. First BanCorp. has a one year low of $16.40 and a one year high of $22.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81.

First BanCorp. (NYSE:FBP - Get Free Report) last released its 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 business had revenue of $248.13 million for the quarter, compared to analysts' expectations of $243.08 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.54%. The ex-dividend date is Thursday, May 29th. First BanCorp.'s dividend payout ratio is currently 39.13%.

Insider Buying and Selling at First BanCorp.

In other news, EVP Carlos Power sold 45,797 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 of the company's stock, valued at approximately $3,874,498.11. This represents a 19.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FBP shares. Keefe, Bruyette & Woods increased their target price 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 increased their price objective on First BanCorp. from $20.00 to $22.00 and gave the stock 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. According to MarketBeat.com, First BanCorp. presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

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.