Y Intercept Hong Kong Ltd Invests $392,000 in First BanCorp. (NYSE:FBP)

Y Intercept Hong Kong Ltd acquired a new position in shares of First BanCorp. (NYSE:FBP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,452 shares of the bank's stock, valued at approximately $392,000.

A number of other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in First BanCorp. by 103.4% during the first quarter. Farther Finance Advisors LLC now owns 1,383 shares of the bank's stock valued at $27,000 after purchasing an additional 703 shares in the last quarter. Federated Hermes Inc. increased its holdings in First BanCorp. by 919.3% in the fourth quarter. Federated Hermes Inc. now owns 4,057 shares of the bank's stock valued at $75,000 after purchasing an additional 3,659 shares during the period. Sterling Capital Management LLC increased its holdings in First BanCorp. by 806.0% in the fourth quarter. Sterling Capital Management LLC now owns 4,711 shares of the bank's stock valued at $88,000 after purchasing an additional 4,191 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in First BanCorp. during the 1st quarter worth about $96,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of First BanCorp. in the 4th quarter worth about $168,000. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company upped their price target 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. Stock Performance

Shares of NYSE FBP traded down $0.51 during trading on Friday, reaching $20.32. 395,455 shares of the stock traded hands, compared to its average volume of 1,186,838. First BanCorp. has a 52-week low of $16.40 and a 52-week high of $22.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day moving average of $20.81 and a 200-day moving average of $19.90. The stock has a market capitalization of $3.28 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 1.24 and a beta of 0.93.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $246.81 million for the quarter, compared to the consensus estimate of $250.73 million. First BanCorp. had a return on equity of 17.54% and a net margin of 24.71%. During the same quarter in the prior year, the business posted $0.46 earnings per share. Analysts forecast that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Thursday, August 28th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, August 28th. First BanCorp.'s dividend payout ratio is currently 38.30%.

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.