Allspring Global Investments Holdings LLC Raises Holdings in First BanCorp. (NYSE:FBP)

Allspring Global Investments Holdings LLC lifted its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 54.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,957 shares of the bank's stock after purchasing an additional 15,412 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in First BanCorp. were worth $843,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Picton Mahoney Asset Management grew its holdings in First BanCorp. by 48.2% during the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after buying an additional 514 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in First BanCorp. by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 42,527 shares of the bank's stock worth $815,000 after buying an additional 693 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in First BanCorp. by 103.4% during the first quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock worth $27,000 after buying an additional 703 shares in the last quarter. Quantinno Capital Management LP grew its holdings in First BanCorp. by 6.1% during the fourth quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank's stock worth $235,000 after buying an additional 730 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in First BanCorp. by 5.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 16,935 shares of the bank's stock worth $315,000 after buying an additional 815 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Performance

NYSE:FBP traded up $0.19 during trading on Friday, reaching $22.00. The company's stock had a trading volume of 1,184,323 shares, compared to its average volume of 1,114,050. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average of $20.54 and a 200-day moving average of $19.62. First BanCorp. has a 12 month low of $16.40 and a 12 month high of $22.40.

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 (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 the consensus estimate of $243.08 million. First BanCorp. had a return on equity of 18.22% and a net margin of 24.46%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Research analysts expect that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were paid a $0.18 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 3.27%. First BanCorp.'s dividend payout ratio (DPR) is presently 39.13%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on First BanCorp. from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday.

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.