DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Takes Position in First BanCorp. (NYSE:FBP)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 75,733 shares of the bank's stock, valued at approximately $1,408,000.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on 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 boosted 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, First BanCorp. presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

First BanCorp. Trading Down 1.0%

First BanCorp. stock opened at $20.08 on Monday. The stock has a 50-day moving average of $18.68 and a two-hundred day moving average of $19.50. 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. has a one year low of $16.40 and a one year high of $22.40. The stock has a market cap of $3.28 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.04. The business had revenue of $248.13 million for the quarter, compared to analyst estimates of $243.08 million. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. The company's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 earnings per share. On average, research analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

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

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.

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