Teza Capital Management LLC Purchases 16,598 Shares of First BanCorp. (NYSE:FBP)

Teza Capital Management LLC increased its position in First BanCorp. (NYSE:FBP - Free Report) by 140.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,402 shares of the bank's stock after buying an additional 16,598 shares during the period. Teza Capital Management LLC's holdings in First BanCorp. were worth $528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in First BanCorp. in the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management increased its position in First BanCorp. by 48.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock worth $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. increased its position in First BanCorp. by 31.9% in the fourth quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in First BanCorp. by 17.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank's stock valued at $68,000 after purchasing an additional 544 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in First BanCorp. by 394.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock valued at $70,000 after purchasing an additional 3,032 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

First BanCorp. Trading Down 0.1%

FBP stock opened at $20.92 on Tuesday. First BanCorp. has a twelve month low of $16.40 and a twelve month high of $22.40. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm's fifty day simple moving average is $19.03 and its two-hundred day simple moving average is $19.57.

First BanCorp. (NYSE:FBP - Get Free Report) last released its quarterly earnings results 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 net margin of 24.37% and a return on equity of 18.89%. The firm had revenue of $248.13 million during the quarter, compared to analysts' expectations of $243.08 million. During the same period in the previous year, the company earned $0.44 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.44%. First BanCorp.'s dividend payout ratio is 39.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FBP. Wells Fargo & Company boosted their target price on shares of First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods boosted their price objective on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.80.

First BanCorp. Company 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.

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