Jefferies Financial Group Inc. Sells 203,097 Shares of First BanCorp. (NYSE:FBP)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its holdings in First BanCorp., selling 203,097 shares and holding only 17,982 shares afterward, which is a 91.9% decrease.
• Several other institutional investors have increased their stakes in First BanCorp., with XTX Topco Ltd posting a remarkable 173.3% increase in their position during the same period.
• First BanCorp. reported $0.50 earnings per share for the quarter, surpassing analyst expectations, and announced a quarterly dividend of $0.18, reflecting a dividend yield of 3.5%.

Jefferies Financial Group Inc. lessened its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 91.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,982 shares of the bank's stock after selling 203,097 shares during the period. Jefferies Financial Group Inc.'s holdings in First BanCorp. were worth $345,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. US Bancorp DE raised its position in First BanCorp. by 27.8% in the 1st quarter. US Bancorp DE now owns 33,131 shares of the bank's stock valued at $635,000 after buying an additional 7,200 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of First BanCorp. by 23.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 20,188 shares of the bank's stock worth $387,000 after buying an additional 3,850 shares during the period. Natixis Advisors LLC increased its stake in shares of First BanCorp. by 7.1% during the first quarter. Natixis Advisors LLC now owns 45,139 shares of the bank's stock worth $865,000 after purchasing an additional 2,975 shares during the period. Vestcor Inc increased its stake in shares of First BanCorp. by 3.5% during the first quarter. Vestcor Inc now owns 32,512 shares of the bank's stock worth $623,000 after purchasing an additional 1,095 shares during the period. Finally, XTX Topco Ltd grew its position in First BanCorp. by 173.3% during the first quarter. XTX Topco Ltd now owns 44,663 shares of the bank's stock worth $856,000 after buying an additional 28,322 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

First BanCorp. Price Performance

Shares of NYSE:FBP traded up $0.23 during trading on Friday, hitting $20.62. 714,735 shares of the company were exchanged, compared to its average volume of 1,375,067. The business's 50 day moving average is $20.83 and its 200-day moving average is $19.94. The company has a market capitalization of $3.33 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.17. 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 announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $246.81 million during the quarter, compared to the consensus estimate 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 business earned $0.46 earnings per share. Equities analysts forecast that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.5%. First BanCorp.'s payout ratio is currently 38.30%.

Analyst Ratings Changes

Separately, Wells Fargo & Company increased their price target on 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. Company 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.