UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $9.06 Million Stock Position in First BanCorp. (NYSE:FBP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First BanCorp. (NYSE:FBP - Free Report) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 487,355 shares of the bank's stock after purchasing an additional 68,057 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.30% of First BanCorp. worth $9,060,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of First BanCorp. by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 98,810 shares of the bank's stock worth $1,837,000 after purchasing an additional 22,012 shares during the period. Quantinno Capital Management LP grew its position in First BanCorp. by 6.1% in the fourth 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. Principal Financial Group Inc. grew its position in First BanCorp. by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock valued at $17,216,000 after acquiring an additional 37,432 shares during the last quarter. Point72 Asset Management L.P. bought a new position in First BanCorp. in the fourth quarter valued at about $292,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in First BanCorp. by 52.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock valued at $1,149,000 after acquiring an additional 21,213 shares during the last quarter. Institutional investors own 97.91% of the company's stock.

First BanCorp. Trading Down 0.5%

Shares of FBP stock traded down $0.10 during mid-day trading on Wednesday, reaching $20.05. 824,299 shares of the stock traded hands, compared to its average volume of 1,109,437. The stock's fifty day simple moving average is $19.39 and its two-hundred day simple moving average is $19.53. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 11.08, 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.

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

First BanCorp. Announces Dividend

The company also recently declared 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s payout ratio is 39.13%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on 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 company's stock. According to data from MarketBeat.com, First BanCorp. currently has a consensus rating of "Moderate Buy" and a consensus 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.