Teacher Retirement System of Texas Lowers Holdings in First BanCorp. (NYSE:FBP)

Teacher Retirement System of Texas lessened its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 45.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,866 shares of the bank's stock after selling 59,954 shares during the quarter. Teacher Retirement System of Texas' holdings in First BanCorp. were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FBP. Picton Mahoney Asset Management increased its stake in First BanCorp. by 48.2% in the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after acquiring an additional 514 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in First BanCorp. by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 42,527 shares of the bank's stock worth $815,000 after acquiring an additional 693 shares during the last quarter. Farther Finance Advisors LLC increased its stake in First BanCorp. by 103.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock worth $27,000 after acquiring an additional 703 shares during the last quarter. Quantinno Capital Management LP increased its stake in First BanCorp. by 6.1% in the 4th quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank's stock worth $235,000 after acquiring an additional 730 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in First BanCorp. by 5.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,935 shares of the bank's stock worth $315,000 after acquiring an additional 815 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price objective on First BanCorp. from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th.

First BanCorp. Trading Up 0.8%

Shares of NYSE FBP traded up $0.17 during trading hours on Wednesday, hitting $21.66. 1,282,167 shares of the company traded hands, compared to its average volume of 1,112,616. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.33 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.19. The company's 50 day moving average price is $20.61 and its 200 day moving average price is $19.67. First BanCorp. has a 12 month low of $16.40 and a 12 month high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm 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 18.22% and a net margin of 24.46%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, equities research analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Thursday, May 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Thursday, May 29th. First BanCorp.'s dividend payout ratio is currently 39.13%.

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.