Fox Run Management L.L.C. Sells 14,444 Shares of First BanCorp. $FBP

Key Points

• Fox Run Management L.L.C. reduced its stake in First BanCorp. by 40.2%, selling 14,444 shares and ending with a total of 21,510 shares valued at approximately $412,000.
• The company announced a quarterly dividend of $0.18 per share, representing an annualized amount of $0.72 and a yield of 3.4%.
• First BanCorp.'s stock is currently priced at $21.30 with a market cap of $3.42 billion and a recent earnings report outperforming estimates with an EPS of $0.50.

Fox Run Management L.L.C. decreased its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 40.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,510 shares of the bank's stock after selling 14,444 shares during the period. Fox Run Management L.L.C.'s holdings in First BanCorp. were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. First Trust Advisors LP grew 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 valued at $90,558,000 after acquiring an additional 1,460,789 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in First BanCorp. by 10.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,685,588 shares of the bank's stock worth $49,926,000 after buying an additional 248,335 shares during the period. Northern Trust Corp boosted its holdings in First BanCorp. by 10.5% in the 4th quarter. Northern Trust Corp now owns 2,622,843 shares of the bank's stock worth $48,759,000 after buying an additional 248,272 shares during the period. Lord Abbett & CO. LLC boosted its holdings in First BanCorp. by 1.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,761,893 shares of the bank's stock worth $33,775,000 after buying an additional 24,925 shares during the period. Finally, Bank of America Corp DE boosted its holdings in First BanCorp. by 3.1% in the 4th quarter. Bank of America Corp DE now owns 1,671,029 shares of the bank's stock worth $31,064,000 after buying an additional 50,091 shares during the period. Institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Up 0.7%

Shares of FBP stock opened at $21.30 on Tuesday. The stock has a market cap of $3.42 billion, a P/E ratio of 11.33, a PEG ratio of 1.31 and a beta of 0.96. First BanCorp. has a 52 week low of $16.40 and a 52 week high of $22.40. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.17. The company's fifty day simple moving average is $20.97 and its two-hundred day simple moving average is $19.95.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $246.81 million for the quarter, compared to analysts' expectations of $250.73 million. First BanCorp. had a net margin of 24.71% and a return on equity of 17.54%. During the same period in the prior year, the company earned $0.46 EPS. 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, September 12th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 28th. First BanCorp.'s dividend payout ratio is currently 38.30%.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their target price on shares of First BanCorp. from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th.

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.

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