Jane Street Group LLC Sells 183,736 Shares of First BanCorp. (NYSE:FBP)

Jane Street Group LLC cut its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 86.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,841 shares of the bank's stock after selling 183,736 shares during the quarter. Jane Street Group LLC's holdings in First BanCorp. were worth $518,000 at the end of the most recent reporting period.

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

First BanCorp. Trading Down 0.4%

Shares of FBP traded down $0.08 during midday trading on Friday, hitting $19.99. The stock had a trading volume of 1,327,293 shares, compared to its average volume of 1,109,249. The business has a 50-day simple moving average of $19.35 and a two-hundred day simple moving average of $19.54. The firm has a market cap of $3.23 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. First BanCorp. has a fifty-two week low of $16.40 and a fifty-two week high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The business had revenue of $248.13 million during the quarter, compared to the consensus estimate of $243.08 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.72 annualized dividend and a yield of 3.60%. First BanCorp.'s dividend payout ratio (DPR) is presently 39.13%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price target on shares of First BanCorp. from $20.00 to $22.00 and gave the stock 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 assigned a buy rating to the company. Based on data from MarketBeat.com, First BanCorp. presently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

First BanCorp. Company 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.