D. E. Shaw & Co. Inc. Boosts Stake in First BanCorp. (NYSE:FBP)

D. E. Shaw & Co. Inc. increased its position in First BanCorp. (NYSE:FBP - Free Report) by 1,315.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,407 shares of the bank's stock after purchasing an additional 155,582 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.10% of First BanCorp. worth $3,112,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FBP. R Squared Ltd purchased a new position in First BanCorp. in the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management boosted its holdings in shares of First BanCorp. by 48.2% during the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock valued at $29,000 after acquiring an additional 514 shares during the last quarter. Blue Trust Inc. grew its stake in shares of First BanCorp. by 31.9% in the fourth quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock worth $42,000 after acquiring an additional 542 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of First BanCorp. by 17.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank's stock valued at $68,000 after purchasing an additional 544 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in First BanCorp. by 394.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock valued at $70,000 after purchasing an additional 3,032 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FBP has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their target price 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 objective on First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

First BanCorp. Stock Performance

FBP stock traded up $0.07 during midday trading on Friday, reaching $20.21. 938,224 shares of the company's stock traded hands, compared to its average volume of 1,100,572. First BanCorp. has a 52-week low of $16.40 and a 52-week high of $22.40. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.26 billion, a P/E ratio of 11.17, a PEG ratio of 1.34 and a beta of 0.93. The stock's 50-day moving average is $19.21 and its 200 day moving average is $19.58.

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. The company had revenue of $248.13 million for the quarter, compared to the consensus estimate of $243.08 million. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. First BanCorp.'s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. As a group, analysts anticipate that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 dividend on an annualized basis and a yield of 3.56%. First BanCorp.'s dividend payout ratio is presently 39.13%.

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.