Point72 Asset Management L.P. Makes New Investment in First BanCorp. (NYSE:FBP)

Point72 Asset Management L.P. purchased a new position in shares of First BanCorp. (NYSE:FBP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,696 shares of the bank's stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in First BanCorp. in the 4th quarter valued at about $504,000. ProShare Advisors LLC raised its holdings in First BanCorp. by 44.4% in the 4th quarter. ProShare Advisors LLC now owns 48,802 shares of the bank's stock valued at $907,000 after buying an additional 15,011 shares during the period. Quantinno Capital Management LP raised its holdings in First BanCorp. by 6.1% in the 4th quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank's stock valued at $235,000 after buying an additional 730 shares during the period. Millennium Management LLC raised its holdings in First BanCorp. by 381.9% in the 4th quarter. Millennium Management LLC now owns 948,153 shares of the bank's stock valued at $17,626,000 after buying an additional 751,413 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in First BanCorp. by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,132 shares of the bank's stock valued at $1,713,000 after buying an additional 3,536 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

First BanCorp. Trading Up 1.8%

NYSE:FBP traded up $0.37 during mid-day trading on Tuesday, reaching $20.60. The company's stock had a trading volume of 905,748 shares, compared to its average volume of 1,100,647. The company's fifty day simple moving average is $19.24 and its two-hundred day simple moving average is $19.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. First BanCorp. has a twelve month low of $16.40 and a twelve month high of $22.40. The stock has a market cap of $3.33 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.34 and a beta of 0.93.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The business had revenue of $248.13 million for the quarter, compared to the consensus estimate of $243.08 million. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. The company's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, equities analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.50%. First BanCorp.'s payout ratio is currently 39.13%.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price objective on shares of First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

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.