LSV Asset Management Increases Stock Position in First BanCorp. (NYSE:FBP)

LSV Asset Management lifted its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,592,504 shares of the bank's stock after acquiring an additional 91,954 shares during the period. LSV Asset Management owned approximately 0.98% of First BanCorp. worth $30,528,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in First BanCorp. by 103.4% during the first quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock worth $27,000 after acquiring an additional 703 shares in the last quarter. Federated Hermes Inc. increased its holdings in First BanCorp. by 919.3% during the fourth quarter. Federated Hermes Inc. now owns 4,057 shares of the bank's stock worth $75,000 after buying an additional 3,659 shares during the last quarter. Sterling Capital Management LLC raised its position in First BanCorp. by 806.0% during the fourth quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock worth $88,000 after acquiring an additional 4,191 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in First BanCorp. in the 1st quarter valued at about $96,000. Finally, Perkins Coie Trust Co grew its holdings in First BanCorp. by 10.0% during the first quarter. Perkins Coie Trust Co now owns 11,000 shares of the bank's stock worth $211,000 after purchasing an additional 1,000 shares during the period. 97.91% of the stock is owned by institutional investors.

First BanCorp. Trading Up 0.2%

First BanCorp. stock traded up $0.04 during mid-day trading on Thursday, reaching $20.40. 460,950 shares of the company traded hands, compared to its average volume of 1,204,868. First BanCorp. has a 52-week low of $16.40 and a 52-week high of $22.40. The firm's 50 day moving average price is $20.81 and its 200 day moving average price is $19.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 1.27 and a beta of 0.96.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. First BanCorp. had a net margin of 24.71% and a return on equity of 17.54%. The company had revenue of $246.81 million during the quarter, compared to analysts' expectations of $250.73 million. During the same period last year, the company posted $0.46 EPS. On average, analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price target on shares of First BanCorp. from $22.00 to $25.00 and gave the company an "overweight" rating in a research note 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.