Edgestream Partners L.P. Grows Position in First BanCorp. (NYSE:FBP)

Edgestream Partners L.P. lifted its position in First BanCorp. (NYSE:FBP - Free Report) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,688 shares of the bank's stock after acquiring an additional 25,430 shares during the quarter. Edgestream Partners L.P. owned 0.24% of First BanCorp. worth $7,528,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in First BanCorp. by 103.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock valued at $27,000 after buying an additional 703 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in 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 buying an additional 514 shares in the last quarter. Federated Hermes Inc. lifted its holdings in First BanCorp. by 919.3% during the 4th quarter. Federated Hermes Inc. now owns 4,057 shares of the bank's stock valued at $75,000 after buying an additional 3,659 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in First BanCorp. by 806.0% during the 4th quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock valued at $88,000 after buying an additional 4,191 shares in the last quarter. Finally, MorganRosel Wealth Management LLC bought a new stake in First BanCorp. during the 1st quarter valued at about $96,000. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price target on shares of First BanCorp. from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, July 10th.

First BanCorp. Stock Up 2.6%

Shares of First BanCorp. stock traded up $0.56 during trading on Thursday, reaching $22.23. The company's stock had a trading volume of 1,652,285 shares, compared to its average volume of 1,109,317. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 12.08, a P/E/G ratio of 1.29 and a beta of 0.93. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The company has a 50-day simple moving average of $20.68 and a two-hundred day simple moving average of $19.70.

First BanCorp. (NYSE:FBP - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 24.46% and a return on equity of 18.22%. First BanCorp.'s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, equities analysts forecast that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Dividend Announcement

The business also recently announced 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. This represents a $0.72 annualized dividend and a yield of 3.24%. The ex-dividend date was Thursday, May 29th. First BanCorp.'s dividend payout ratio is presently 39.13%.

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.