Public Employees Retirement System of Ohio Purchases 13,998 Shares of First BanCorp. (NYSE:FBP)

Public Employees Retirement System of Ohio raised its position in First BanCorp. (NYSE:FBP - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,131 shares of the bank's stock after buying an additional 13,998 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of First BanCorp. worth $2,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GTS Securities LLC acquired a new position in First BanCorp. in the fourth quarter valued at about $218,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in First BanCorp. by 16.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 487,355 shares of the bank's stock valued at $9,060,000 after buying an additional 68,057 shares in the last quarter. Voloridge Investment Management LLC boosted its position in First BanCorp. by 132.7% in the fourth quarter. Voloridge Investment Management LLC now owns 733,276 shares of the bank's stock valued at $13,632,000 after buying an additional 418,168 shares in the last quarter. Squarepoint Ops LLC acquired a new position in First BanCorp. in the fourth quarter valued at about $629,000. Finally, Teza Capital Management LLC boosted its position in First BanCorp. by 140.6% in the fourth quarter. Teza Capital Management LLC now owns 28,402 shares of the bank's stock valued at $528,000 after buying an additional 16,598 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their price target on shares of First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.80.

First BanCorp. Price Performance

FBP traded down $0.10 during midday trading on Wednesday, hitting $20.05. The company had a trading volume of 824,299 shares, compared to its average volume of 1,109,437. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $3.24 billion, a PE ratio of 11.08, a P/E/G ratio of 1.34 and a beta of 0.93. First BanCorp. has a twelve month low of $16.40 and a twelve month high of $22.40. The firm's 50-day simple moving average is $19.39 and its 200-day simple moving average is $19.53.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $248.13 million during the quarter, compared to analysts' expectations of $243.08 million. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts predict that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s dividend payout ratio (DPR) 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.