SG Americas Securities LLC Has $2.11 Million Stock Position in First BanCorp. (NYSE:FBP)

SG Americas Securities LLC trimmed its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 109,948 shares of the bank's stock after selling 23,223 shares during the quarter. SG Americas Securities LLC owned about 0.07% of First BanCorp. worth $2,108,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FBP. Vanguard Group Inc. grew its stake in First BanCorp. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 21,462,121 shares of the bank's stock worth $398,981,000 after buying an additional 63,304 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of First BanCorp. by 1.2% during the 4th quarter. American Century Companies Inc. now owns 6,724,074 shares of the bank's stock worth $125,001,000 after acquiring an additional 78,129 shares during the period. First Trust Advisors LP boosted its position in shares of First BanCorp. by 42.8% during the 4th quarter. First Trust Advisors LP now owns 4,871,338 shares of the bank's stock worth $90,558,000 after acquiring an additional 1,460,789 shares in the last quarter. Geode Capital Management LLC increased its stake in First BanCorp. by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,462,862 shares of the bank's stock valued at $82,981,000 after acquiring an additional 76,256 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in First BanCorp. by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,685,588 shares of the bank's stock valued at $49,926,000 after acquiring an additional 248,335 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their target price on First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

First BanCorp. Price Performance

FBP stock traded up $0.13 during midday trading on Wednesday, reaching $19.49. 262,728 shares of the stock were exchanged, compared to its average volume of 1,102,829. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $3.15 billion, a PE ratio of 10.58, a P/E/G ratio of 1.33 and a beta of 0.94. First BanCorp. has a 52 week low of $16.40 and a 52 week high of $22.40. The company has a fifty day moving average price of $19.75 and a 200 day moving average price of $19.46.

First BanCorp. (NYSE:FBP - Get Free Report) last released its quarterly earnings data 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. First BanCorp. had a return on equity of 18.22% and a net margin of 24.46%. The company 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 posted $0.44 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Thursday, May 29th. First BanCorp.'s payout ratio is currently 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.