Jackson Creek Investment Advisors LLC Makes New Investment in First BanCorp. (NYSE:FBP)

Jackson Creek Investment Advisors LLC purchased a new position in shares of First BanCorp. (NYSE:FBP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,235 shares of the bank's stock, valued at approximately $1,481,000.

Several other hedge funds also recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its position in shares of First BanCorp. by 103.4% in the first quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock valued at $27,000 after purchasing an additional 703 shares during the period. Federated Hermes Inc. boosted its holdings in First BanCorp. by 919.3% in the fourth quarter. Federated Hermes Inc. now owns 4,057 shares of the bank's stock valued at $75,000 after acquiring an additional 3,659 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in First BanCorp. by 806.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock valued at $88,000 after acquiring an additional 4,191 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in First BanCorp. in the first quarter valued at $96,000. Finally, New Age Alpha Advisors LLC acquired a new position in First BanCorp. in the fourth quarter valued at $168,000. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Down 0.0%

Shares of FBP traded down $0.00 during midday trading on Friday, reaching $22.21. 69,229 shares of the company were exchanged, compared to its average volume of 1,105,255. The stock has a 50-day moving average price of $20.68 and a 200-day moving average price of $19.70. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.29 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 company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $243.08 million. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 29th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Thursday, May 29th. First BanCorp.'s dividend payout ratio (DPR) is 39.13%.

Analyst Upgrades and Downgrades

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

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.

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