Jackson Creek Investment Advisors LLC Makes New $1.48 Million Investment in First BanCorp. (NYSE:FBP)

Jackson Creek Investment Advisors LLC purchased a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 77,235 shares of the bank's stock, valued at approximately $1,481,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. increased its stake in shares of First BanCorp. by 5.0% in the first quarter. Xponance Inc. now owns 12,191 shares of the bank's stock worth $234,000 after buying an additional 584 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in First BanCorp. by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 42,527 shares of the bank's stock valued at $815,000 after acquiring an additional 693 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 703 shares in the last quarter. Quantinno Capital Management LP raised its holdings in First BanCorp. by 6.1% in the fourth quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank's stock valued at $235,000 after acquiring an additional 730 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in First BanCorp. by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 29,978 shares of the bank's stock valued at $575,000 after acquiring an additional 802 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

First BanCorp. Stock Performance

Shares of First BanCorp. stock traded down $0.15 during midday trading on Monday, hitting $21.93. The company had a trading volume of 1,025,723 shares, compared to its average volume of 1,110,435. The business's 50 day simple moving average is $20.74 and its two-hundred day simple moving average is $19.77. The stock has a market cap of $3.54 billion, a PE ratio of 11.92, a P/E/G ratio of 1.32 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.81. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The firm had revenue of $248.13 million for the quarter, compared to the consensus estimate of $243.08 million. First BanCorp. had a net margin of 24.46% and a return on equity of 18.22%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. As a group, equities analysts predict that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.72 annualized dividend and a yield of 3.28%. First BanCorp.'s dividend payout ratio is currently 39.13%.

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.