AQR Capital Management LLC Has $4.84 Million Stake in First BanCorp. (NYSE:FBP)

AQR Capital Management LLC increased its stake in First BanCorp. (NYSE:FBP - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 260,512 shares of the bank's stock after purchasing an additional 52,540 shares during the period. AQR Capital Management LLC owned approximately 0.16% of First BanCorp. worth $4,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC raised its position in First BanCorp. by 25.2% in the 4th quarter. Lido Advisors LLC now owns 19,565 shares of the bank's stock valued at $364,000 after buying an additional 3,932 shares during the last quarter. Northern Trust Corp lifted its position in shares of First BanCorp. by 10.5% in the fourth quarter. Northern Trust Corp now owns 2,622,843 shares of the bank's stock worth $48,759,000 after purchasing an additional 248,272 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in First BanCorp. by 11.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 284,857 shares of the bank's stock worth $5,295,000 after purchasing an additional 28,760 shares during the last quarter. Aquatic Capital Management LLC bought a new position in First BanCorp. in the fourth quarter valued at $901,000. Finally, Voya Investment Management LLC increased its stake in First BanCorp. by 12.0% in the 4th quarter. Voya Investment Management LLC now owns 659,052 shares of the bank's stock valued at $12,252,000 after buying an additional 70,528 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Wells Fargo & Company boosted their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.80.

First BanCorp. Stock Performance

First BanCorp. stock traded down $0.20 during midday trading on Friday, reaching $20.08. 1,007,593 shares of the company's stock were exchanged, compared to its average volume of 1,091,217. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The stock's 50-day simple moving average is $18.68 and its 200 day simple moving average is $19.50. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 11.09, a P/E/G 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.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results 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 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 analyst estimates of $243.08 million. During the same period in the previous year, the firm earned $0.44 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.72 annualized dividend and a yield of 3.59%. First BanCorp.'s dividend payout ratio is currently 39.13%.

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.