Man Group plc Sells 98,207 Shares of First BanCorp. (NYSE:FBP)

Man Group plc trimmed its position in First BanCorp. (NYSE:FBP - Free Report) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 98,389 shares of the bank's stock after selling 98,207 shares during the period. Man Group plc owned approximately 0.06% of First BanCorp. worth $1,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of First BanCorp. by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 98,810 shares of the bank's stock valued at $1,837,000 after acquiring an additional 22,012 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of First BanCorp. by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock valued at $17,216,000 after purchasing an additional 37,432 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First BanCorp. by 52.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock valued at $1,149,000 after purchasing an additional 21,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of First BanCorp. in the fourth quarter valued at $420,000. Finally, Sei Investments Co. lifted its holdings in shares of First BanCorp. by 4.9% in the fourth quarter. Sei Investments Co. now owns 437,437 shares of the bank's stock valued at $8,132,000 after purchasing an additional 20,256 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Stock Down 0.7%

First BanCorp. stock traded down $0.15 during mid-day trading on Thursday, hitting $19.92. 414,827 shares of the company's stock were exchanged, compared to its average volume of 1,198,476. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.22 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.34 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 stock has a 50 day moving average of $19.32 and a two-hundred day moving average of $19.58.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating 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 return on equity of 18.89% and a net margin of 24.37%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.44 earnings per share. As a group, analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 3.62%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s payout ratio is presently 39.13%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target on shares of First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.80.

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.