First BanCorp. $FBP Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments sharply increased its stake in First BanCorp., boosting holdings by 546.9% to 291,969 shares valued at about $6.3 million, according to its latest 13F filing.
• First BanCorp. reported a strong Q2 earnings beat, posting $0.62 EPS versus the $0.54 consensus, and the company also outlined 2026 loan growth of 3% to 5% with net interest margin expected to improve.
• Analysts remain generally constructive on the stock, with several firms raising price targets and the consensus rating sitting at Buy; First BanCorp. also declared a quarterly dividend of $0.20 per share.

Allspring Global Investments Holdings LLC raised its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 546.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,969 shares of the bank's stock after buying an additional 246,838 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.19% of First BanCorp. worth $6,301,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Fifth Third Bancorp grew its holdings in shares of First BanCorp. by 64.9% in the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank's stock valued at $30,000 after purchasing an additional 560 shares during the period. EverSource Wealth Advisors LLC raised its holdings in First BanCorp. by 151.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank's stock valued at $39,000 after buying an additional 1,129 shares during the period. First Horizon Corp purchased a new position in First BanCorp. during the fourth quarter worth about $40,000. Jones Financial Companies Lllp lifted its holdings in shares of First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank's stock worth $57,000 after acquiring an additional 2,262 shares during the last quarter. Finally, State of Wyoming acquired a new stake in First BanCorp. in the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on FBP shares. Piper Sandler increased their price target on shares of First BanCorp. from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their price objective on First BanCorp. from $27.00 to $31.00 and gave the stock a "market perform" rating in a research report on Thursday. Weiss Ratings raised shares of First BanCorp. from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 1st. Benchmark upped their target price on First BanCorp. from $31.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Truist Financial boosted their price objective on First BanCorp. from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, First BanCorp. currently has a consensus rating of "Buy" and an average price target of $28.75.

First BanCorp. News Summary

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: First BanCorp. beat Q2 expectations, reporting $0.62 EPS versus the $0.54 consensus, while earnings-call coverage highlighted robust growth and strategic initiatives. First BanCorp shares edge higher after second-quarter earnings top expectations NYSE: FBP
• Positive Sentiment: The company outlined 2026 loan growth of 3% to 5% and said net interest margin could expand 3 to 5 basis points per quarter, which suggests improving profitability. First BanCorp. outlines 3 percent to 5 percent 2026 loan growth, with margin seen expanding 3 to 5 bps per quarter
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on First BanCorp. (FBP) to $31 from $27, signaling improved valuation expectations even though the rating remains market perform. Benzinga article on price target raise
• Neutral Sentiment: The board also declared a quarterly dividend of $0.20 per share, reinforcing capital return but not likely the main driver of today’s trading. First BanCorp stock page

First BanCorp. Stock Performance

NYSE FBP opened at $28.83 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. First BanCorp. has a 12-month low of $19.16 and a 12-month high of $28.93. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.82 and a beta of 0.82. The business's 50 day moving average is $25.55 and its two-hundred day moving average is $23.31.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.08. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%.The firm had revenue of $264.86 million for the quarter, compared to analyst estimates of $265.31 million. Research analysts expect that First BanCorp. will post 2.26 EPS for the current year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, August 27th. First BanCorp.'s dividend payout ratio (DPR) is currently 35.56%.

First BanCorp. Company Profile

First BanCorp NYSE: FBP is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.

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