Squarepoint Ops LLC Takes $629,000 Position in First BanCorp. (NYSE:FBP)

Squarepoint Ops LLC purchased a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 33,822 shares of the bank's stock, valued at approximately $629,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Teza Capital Management LLC grew its holdings in shares of First BanCorp. by 140.6% during the 4th quarter. Teza Capital Management LLC now owns 28,402 shares of the bank's stock valued at $528,000 after purchasing an additional 16,598 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of First BanCorp. during the 4th quarter valued at approximately $292,000. Point72 Hong Kong Ltd bought a new stake in shares of First BanCorp. during the 4th quarter valued at approximately $504,000. ProShare Advisors LLC grew its holdings in shares of First BanCorp. by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 48,802 shares of the bank's stock valued at $907,000 after purchasing an additional 15,011 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of 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 purchasing an additional 730 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

First BanCorp. Trading Up 1.6%

FBP traded up $0.32 during trading on Friday, reaching $20.19. 754,773 shares of the company's stock were exchanged, compared to its average volume of 1,105,768. First BanCorp. has a one year low of $16.40 and a one year high of $22.40. 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 stock has a market capitalization of $3.26 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The firm has a fifty day moving average price of $19.42 and a two-hundred day moving average price of $19.51.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share 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 analyst estimates of $243.08 million. During the same period in the previous year, the firm posted $0.44 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Thursday, May 29th. First BanCorp.'s dividend payout ratio is currently 39.13%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their price target 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 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 has an average rating of "Moderate Buy" and an average 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.