First BanCorp. (NYSE:FBP) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC increased its position in First BanCorp. (NYSE:FBP - Free Report) by 44.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,802 shares of the bank's stock after purchasing an additional 15,011 shares during the quarter. ProShare Advisors LLC's holdings in First BanCorp. were worth $907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quantinno Capital Management LP boosted its stake in First BanCorp. by 6.1% during the 4th 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 during the last quarter. Millennium Management LLC boosted its stake in First BanCorp. by 381.9% during the 4th quarter. Millennium Management LLC now owns 948,153 shares of the bank's stock valued at $17,626,000 after acquiring an additional 751,413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in First BanCorp. by 4.0% during 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 acquiring an additional 3,536 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in First BanCorp. by 3.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,208,262 shares of the bank's stock valued at $22,462,000 after acquiring an additional 39,094 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in First BanCorp. during the 4th quarter valued at $4,110,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 research report on Monday, April 28th. One 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, First BanCorp. currently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

First BanCorp. Stock Performance

NYSE FBP traded up $0.37 during trading hours 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 has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $19.24 and a 200 day simple moving average of $19.56. First BanCorp. has a 52 week low of $16.40 and a 52 week high of $22.40. The stock has a market cap of $3.33 billion, a PE ratio of 11.38, a PEG ratio of 1.34 and a beta of 0.93.

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

First BanCorp. Dividend Announcement

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

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.