First BanCorp. (NYSE:FBP) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in First BanCorp. (NYSE:FBP - Free Report) by 54.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,957 shares of the bank's stock after acquiring an additional 15,412 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in First BanCorp. were worth $843,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of First BanCorp. by 103.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock worth $27,000 after acquiring an additional 703 shares in the last quarter. Picton Mahoney Asset Management grew its position in shares of First BanCorp. by 48.2% in the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after acquiring an additional 514 shares in the last quarter. Federated Hermes Inc. grew its position in shares of First BanCorp. by 919.3% in the 4th quarter. Federated Hermes Inc. now owns 4,057 shares of the bank's stock worth $75,000 after acquiring an additional 3,659 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of First BanCorp. by 806.0% in the 4th quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock worth $88,000 after acquiring an additional 4,191 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in First BanCorp. during the 4th quarter valued at approximately $168,000. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Stock Performance

FBP traded up $0.16 during trading on Thursday, reaching $21.87. 88,352 shares of the company were exchanged, compared to its average volume of 1,108,340. The stock has a market cap of $3.53 billion, a P/E ratio of 11.89, a PEG ratio of 1.47 and a beta of 0.93. The firm has a 50 day moving average of $20.47 and a 200 day moving average of $19.57. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. 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 issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, topping 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 firm's revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, sell-side analysts forecast that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 3.29%. First BanCorp.'s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analyst Weigh In

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

About First BanCorp.

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.