First BanCorp. (NYSE:FBP) Shares Acquired by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD boosted its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,685,588 shares of the bank's stock after acquiring an additional 248,335 shares during the period. Price T Rowe Associates Inc. MD owned about 1.64% of First BanCorp. worth $49,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of FBP. Hsbc Holdings PLC boosted its position in First BanCorp. by 179.7% during the fourth quarter. Hsbc Holdings PLC now owns 97,862 shares of the bank's stock valued at $1,823,000 after purchasing an additional 62,879 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of First BanCorp. by 7.2% in the 4th quarter. MetLife Investment Management LLC now owns 97,833 shares of the bank's stock worth $1,819,000 after buying an additional 6,533 shares during the last quarter. First Trust Advisors LP raised its stake in shares of First BanCorp. by 42.8% during the 4th quarter. First Trust Advisors LP now owns 4,871,338 shares of the bank's stock worth $90,558,000 after acquiring an additional 1,460,789 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in First BanCorp. by 102.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 191,900 shares of the bank's stock valued at $3,567,000 after acquiring an additional 97,000 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in First BanCorp. in the fourth quarter valued at approximately $317,000. Institutional investors own 97.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FBP shares. Wells Fargo & Company upped their price target on First BanCorp. from $20.00 to $22.00 and gave the stock an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.80.

Insider Buying and Selling at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the transaction, the executive vice president now directly owns 176,222 shares in the company, valued at $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.

First BanCorp. Stock Performance

Shares of NYSE:FBP traded up $0.51 on Friday, hitting $20.33. 915,249 shares of the company were exchanged, compared to its average volume of 1,083,168. The firm has a market capitalization of $3.32 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The stock's 50 day moving average price is $18.57 and its 200 day moving average price is $19.53.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 earnings per share 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 business had revenue of $248.13 million for the quarter, compared to analyst estimates of $243.08 million. During the same period in the prior year, the company earned $0.44 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Thursday, May 29th. First BanCorp.'s dividend payout ratio is presently 39.13%.

First BanCorp. 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.