First BanCorp. (NYSE:FBP) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,622,843 shares of the bank's stock after acquiring an additional 248,272 shares during the period. Northern Trust Corp owned approximately 1.60% of First BanCorp. worth $48,759,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in First BanCorp. in the fourth quarter valued at $28,000. Picton Mahoney Asset Management grew its holdings in First BanCorp. by 48.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock valued at $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. grew 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 valued at $42,000 after purchasing an additional 542 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in First BanCorp. in the third quarter valued at $66,000. Finally, Smartleaf Asset Management LLC grew its holdings in First BanCorp. by 394.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock valued at $70,000 after purchasing an additional 3,032 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Analyst Upgrades and Downgrades

FBP has been the topic of several research reports. Wells Fargo & Company upped their target price on First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods upped their price objective 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 research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.80.

First BanCorp. Trading Up 4.1%

Shares of First BanCorp. stock traded up $0.83 during trading hours on Monday, reaching $20.91. The stock had a trading volume of 1,185,225 shares, compared to its average volume of 1,091,709. The firm has a 50 day simple moving average of $18.68 and a two-hundred day simple moving average of $19.50. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.34 and a beta of 0.93. 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.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.47 earnings per share (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 business had revenue of $248.13 million during the quarter, compared to analyst estimates of $243.08 million. During the same quarter last year, the firm earned $0.44 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.44%. First BanCorp.'s payout ratio is 39.13%.

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.