First Trust Advisors LP Increases Stock Holdings in First BanCorp. (NYSE:FBP)

First Trust Advisors LP lifted its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 42.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,871,338 shares of the bank's stock after buying an additional 1,460,789 shares during the quarter. First Trust Advisors LP owned about 2.97% of First BanCorp. worth $90,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FBP. R Squared Ltd bought a new position in shares of First BanCorp. in the 4th quarter worth approximately $28,000. Picton Mahoney Asset Management grew its stake 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 period. Blue Trust Inc. raised its holdings 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of First BanCorp. during the 3rd quarter valued at $66,000. Finally, Smartleaf Asset Management LLC grew its position in shares of First BanCorp. by 394.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock worth $70,000 after buying an additional 3,032 shares during the period. 97.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FBP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Wells Fargo & Company upgraded First BanCorp. from an "equal weight" rating to an "overweight" rating and set a $20.00 price target on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.40.

First BanCorp. Stock Down 1.7 %

Shares of NYSE:FBP traded down $0.34 during trading on Friday, reaching $19.24. 1,138,926 shares of the stock traded hands, compared to its average volume of 1,079,975. The stock has a market cap of $3.14 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a 50-day moving average of $18.57 and a two-hundred day moving average of $19.56. First BanCorp. has a 52-week low of $16.40 and a 52-week high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $243.08 million. As a group, sell-side analysts expect that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s payout ratio is presently 39.78%.

Insider Transactions at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 176,222 shares in the company, valued at $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company's stock.

About First BanCorp.

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.