Quent Capital LLC Purchases New Position in First BanCorp. $FBP

Key Points

• Quent Capital LLC started a new position in First BanCorp, purchasing 90,400 shares (≈$1.87M), while institutional investors now own about 97.9% of the company.
• Q1 results: FBP beat EPS expectations ($0.57 vs. $0.52) aided by net interest margin expansion, but total revenue missed estimates and management highlighted softer loan demand as a potential headwind.
• Income and analyst sentiment: First BanCorp. declared a $0.20 quarterly dividend (≈3.3–3.4% yield) and multiple analysts raised price targets to around $26, contributing to a "Moderate Buy" consensus.

Quent Capital LLC purchased a new stake in First BanCorp. (NYSE:FBP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,400 shares of the bank's stock, valued at approximately $1,874,000. Quent Capital LLC owned about 0.06% of First BanCorp. as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in First BanCorp. by 14.4% during the 3rd quarter. Principal Financial Group Inc. now owns 910,845 shares of the bank's stock worth $20,084,000 after buying an additional 114,931 shares in the last quarter. Citigroup Inc. grew its stake in shares of First BanCorp. by 48.3% in the third quarter. Citigroup Inc. now owns 402,890 shares of the bank's stock worth $8,884,000 after acquiring an additional 131,293 shares in the last quarter. Bayforest Capital Ltd increased its position in shares of First BanCorp. by 191.9% during the third quarter. Bayforest Capital Ltd now owns 40,723 shares of the bank's stock worth $898,000 after acquiring an additional 26,772 shares during the period. Public Sector Pension Investment Board increased its position in shares of First BanCorp. by 11.7% during the third quarter. Public Sector Pension Investment Board now owns 697,827 shares of the bank's stock worth $15,387,000 after acquiring an additional 73,168 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of First BanCorp. by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 1,407,825 shares of the bank's stock valued at $31,043,000 after acquiring an additional 184,769 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. News Summary

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Q1 EPS beat and margin strength: FBP reported Q1 EPS of $0.57, above consensus, driven by net income growth and net interest margin (NIM) expansion that helped offset weaker loan demand. This supports near-term profitability expectations. FBP Q1 Deep Dive: Deposit Growth and NIM Expansion Offset Softer Loan Demand
• Positive Sentiment: Analyst upgrades/price-target increases: Wells Fargo raised its price target to $26 and kept an Overweight rating; Keefe, Bruyette & Woods raised its target to $26 with a Market Perform. Both lifts imply analyst confidence in FBP’s outlook and provide upside relative to the current share level. Benzinga Wells Fargo TP Raise
• Positive Sentiment: Dividend declared: FBP announced a $0.20 quarterly dividend (annualized yield ~3.3%), payable June 12 to holders of record May 28. The payout supports income investors and can underpin the valuation. First BanCorp. declares $0.20 dividend
• Neutral Sentiment: Earnings call / presentations available: Management provided detailed Q1 commentary and a results presentation that outline strategic priorities and drivers (deposits, NIM, loan pipeline). These materials give investors context but contain both positives and cautions. First BanCorp (FBP) Q1 2026 Earnings Call Highlights Q1 Results Presentation
• Negative Sentiment: Softer loan demand and revenue slight miss: While EPS beat, total revenue missed estimates and management noted weaker loan growth — a potential headwind for future top-line momentum if lending conditions don’t improve. FBP Q1 Deep Dive

Insider Transactions at First BanCorp.

In related news, Director Roberto R. Herencia sold 4,723 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $22.63, for a total value of $106,881.49. Following the completion of the transaction, the director directly owned 637,019 shares of the company's stock, valued at $14,415,739.97. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Mcdonald sold 34,122 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $22.11, for a total transaction of $754,437.42. Following the completion of the transaction, the executive vice president owned 62,937 shares in the company, valued at $1,391,537.07. This represents a 35.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company's stock.

First BanCorp. Stock Performance

Shares of FBP stock opened at $23.40 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $21.81 and a 200 day moving average price of $21.25. The company has a market cap of $3.64 billion, a P/E ratio of 10.40, a PEG ratio of 1.94 and a beta of 0.83. First BanCorp. has a 12 month low of $19.06 and a 12 month high of $24.36.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. First BanCorp. had a return on equity of 17.51% and a net margin of 28.31%.The company had revenue of $258.64 million for the quarter, compared to analysts' expectations of $263.54 million. During the same period last year, the firm earned $0.47 earnings per share. Sell-side analysts predict that First BanCorp. will post 2.19 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Thursday, May 28th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.4%. First BanCorp.'s dividend payout ratio is presently 35.56%.

Analyst Ratings Changes

Several research analysts recently commented on FBP shares. Weiss Ratings reissued a "buy (b)" rating on shares of First BanCorp. in a research note on Tuesday. Hovde Group increased their price target on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their price objective on First BanCorp. from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their price objective on First BanCorp. from $24.50 to $26.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, Truist Financial upped their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.67.

First BanCorp. Company Profile

First BanCorp NYSE: FBP is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.

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