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

Jane Street Group LLC reduced its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 86.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd purchased a new position in First BanCorp. in the 4th quarter worth about $28,000. Picton Mahoney Asset Management lifted its holdings in First BanCorp. by 48.2% in the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. lifted its holdings in 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 lifted 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 worth $68,000 after buying an additional 544 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First BanCorp. by 394.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock worth $70,000 after buying an additional 3,032 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their target price on First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.80.

First BanCorp. Trading Down 0.3%

First BanCorp. stock traded down $0.06 during trading hours on Monday, hitting $19.92. The stock had a trading volume of 1,073,046 shares, compared to its average volume of 1,109,083. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.34 and a beta of 0.93. The business's 50 day simple moving average is $19.36 and its 200-day simple moving average is $19.52. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. First BanCorp. has a one year low of $16.40 and a one year high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 18.89% and a net margin of 24.37%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities 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. Investors of record on Thursday, May 29th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s payout ratio is 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.