Point72 Asset Management L.P. Invests $292,000 in First BanCorp. (NYSE:FBP)

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

Several other institutional investors have also bought and sold shares of FBP. Point72 Hong Kong Ltd acquired a new stake in shares of First BanCorp. in the fourth quarter valued at $504,000. ProShare Advisors LLC lifted its holdings in shares of First BanCorp. by 44.4% in the fourth 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 lifted its holdings in shares of 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 buying an additional 730 shares during the period. Millennium Management LLC lifted its holdings in shares of First BanCorp. by 381.9% in the fourth 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. lifted its holdings in shares of First BanCorp. by 4.0% in the fourth 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. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Trading Down 0.7%

Shares of NYSE:FBP traded down $0.14 during midday trading on Thursday, reaching $19.93. The company had a trading volume of 444,668 shares, compared to its average volume of 1,099,168. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a fifty day simple moving average of $19.32 and a two-hundred day simple moving average of $19.58.

First BanCorp. (NYSE:FBP - Get Free Report) last announced 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 18.89% and a net margin of 24.37%. The firm had revenue of $248.13 million during the quarter, compared to analyst estimates of $243.08 million. During the same period last year, the company posted $0.44 EPS. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts predict that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a yield of 3.61%. First BanCorp.'s payout ratio is presently 39.13%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upped their price objective on 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 given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

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.