Deutsche Bank AG Boosts Stake in First BanCorp. (NYSE:FBP)

Deutsche Bank AG raised its holdings in First BanCorp. (NYSE:FBP - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 715,589 shares of the bank's stock after purchasing an additional 43,168 shares during the quarter. Deutsche Bank AG owned 0.44% of First BanCorp. worth $13,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FBP. Barclays PLC boosted its holdings in shares of First BanCorp. by 106.1% in the 3rd quarter. Barclays PLC now owns 367,445 shares of the bank's stock worth $7,779,000 after buying an additional 189,148 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in First BanCorp. in the fourth quarter worth $4,792,000. Wedge Capital Management L L P NC raised its stake in shares of First BanCorp. by 3.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 60,325 shares of the bank's stock valued at $1,121,000 after buying an additional 2,042 shares during the period. SG Americas Securities LLC grew its stake in shares of First BanCorp. by 405.8% during the 4th quarter. SG Americas Securities LLC now owns 133,171 shares of the bank's stock worth $2,476,000 after acquiring an additional 106,841 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in First BanCorp. by 21.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,338 shares of the bank's stock worth $304,000 after acquiring an additional 2,837 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

First BanCorp. Trading Down 1.1%

Shares of First BanCorp. stock traded down $0.22 during trading on Wednesday, reaching $20.62. The company's stock had a trading volume of 69,635 shares, compared to its average volume of 1,204,453. First BanCorp. has a 52-week low of $16.40 and a 52-week 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 firm's 50-day moving average is $19.09 and its two-hundred day moving average is $19.58. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 11.39, a PEG 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 earnings per share (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 the consensus estimate of $243.08 million. During the same quarter in the previous year, the business earned $0.44 EPS. First BanCorp.'s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.49%. 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 lifted their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, First BanCorp. has an average rating of "Moderate Buy" and a consensus price target 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.