Bridgeway Capital Management LLC Acquires 51,400 Shares of First BanCorp. (NYSE:FBP)

Bridgeway Capital Management LLC increased its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 61.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 134,500 shares of the bank's stock after purchasing an additional 51,400 shares during the quarter. Bridgeway Capital Management LLC owned 0.08% of First BanCorp. worth $2,500,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FBP. Vanguard Group Inc. increased its position in shares of First BanCorp. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 21,462,121 shares of the bank's stock worth $398,981,000 after acquiring an additional 63,304 shares in the last quarter. American Century Companies Inc. raised its stake in shares of First BanCorp. by 1.2% in the 4th quarter. American Century Companies Inc. now owns 6,724,074 shares of the bank's stock valued at $125,001,000 after purchasing an additional 78,129 shares during the period. First Trust Advisors LP lifted its holdings in shares of First BanCorp. by 42.8% in the fourth quarter. First Trust Advisors LP now owns 4,871,338 shares of the bank's stock valued at $90,558,000 after purchasing an additional 1,460,789 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of First BanCorp. by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,462,862 shares of the bank's stock worth $82,981,000 after buying an additional 76,256 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of First BanCorp. by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,685,588 shares of the bank's stock worth $49,926,000 after buying an additional 248,335 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

First BanCorp. Trading Down 1.0 %

Shares of First BanCorp. stock opened at $20.08 on Friday. First BanCorp. has a 12-month low of $16.40 and a 12-month high of $22.40. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The business's 50 day moving average is $18.68 and its 200-day moving average is $19.50. The stock has a market cap of $3.28 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.34 and a beta of 0.93.

First BanCorp. (NYSE:FBP - Get Free Report) last announced 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. The firm had revenue of $248.13 million during the quarter, compared to analysts' expectations of $243.08 million. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. Equities research analysts predict that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, May 29th. This represents a $0.72 annualized dividend and a yield of 3.59%. First BanCorp.'s dividend payout ratio is 39.13%.

Analysts Set New Price Targets

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

First BanCorp. Company 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.

Want to see what other hedge funds are holding FBP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First BanCorp. (NYSE:FBP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.