WINTON GROUP Ltd Acquires Shares of 251,922 First BanCorp. $FBP

Key Points

• WINTON GROUP Ltd disclosed a new fourth-quarter stake in First BanCorp., buying 251,922 shares valued at about $5.22 million. The position represented roughly 0.16% of the bank.
• Institutional ownership in First BanCorp. remains very high, with 97.91% of the stock held by institutions. Several other funds, including Jane Street Group and UBS AM, also increased their positions.
• First BanCorp. reported better-than-expected quarterly EPS of $0.57 versus $0.52 expected, and it announced a quarterly dividend of $0.20 per share. Analysts currently have a consensus Buy rating with an average price target of $25.86.

WINTON GROUP Ltd acquired a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 251,922 shares of the bank's stock, valued at approximately $5,222,000. WINTON GROUP Ltd owned approximately 0.16% of First BanCorp. as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of First BanCorp. by 24.4% in the first quarter. Royal Bank of Canada now owns 42,927 shares of the bank's stock worth $824,000 after acquiring an additional 8,419 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of First BanCorp. by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,368 shares of the bank's stock worth $1,847,000 after acquiring an additional 4,236 shares during the period. Jones Financial Companies Lllp grew its stake in shares of First BanCorp. by 328.8% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank's stock worth $57,000 after acquiring an additional 2,262 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of First BanCorp. by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 516,986 shares of the bank's stock worth $9,911,000 after acquiring an additional 29,631 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of First BanCorp. by 1,445.7% in the first quarter. Jane Street Group LLC now owns 430,329 shares of the bank's stock worth $8,249,000 after acquiring an additional 402,488 shares during the period. 97.91% of the stock is currently owned by institutional investors.

First BanCorp. Stock Performance

FBP opened at $24.31 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.46 and a beta of 0.83. The company's 50 day moving average is $23.29 and its 200 day moving average is $21.94. First BanCorp. has a 12-month low of $19.16 and a 12-month high of $24.64.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.05. The company had revenue of $258.64 million for the quarter, compared to the consensus estimate of $263.54 million. First BanCorp. had a net margin of 28.31% and a return on equity of 17.51%. During the same quarter last year, the firm posted $0.47 earnings per share. On average, equities research analysts predict that First BanCorp. will post 2.25 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 28th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. First BanCorp.'s dividend payout ratio (DPR) is presently 35.56%.

Analyst Ratings Changes

A number of brokerages have recently commented on FBP. Keefe, Bruyette & Woods lifted their price target on shares of First BanCorp. from $24.50 to $26.00 and gave the stock a "market perform" rating in a research note on Thursday, April 23rd. Raymond James Financial upgraded shares of First BanCorp. from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $26.00 to $27.00 in a research note on Monday, April 27th. Weiss Ratings upgraded shares of First BanCorp. from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday, June 1st. Wells Fargo & Company lifted their price target on shares of First BanCorp. from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Finally, Truist Financial lifted their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $25.86.

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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