-logo.gif "First BanCorp.")
First BanCorp. (NYSE:FBP) CEO Aurelio Aleman sold 40,000 shares of First BanCorp. stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $12.99, for a total transaction of $519,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,201,065 shares in the company, valued at approximately $15,601,834.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of NYSE FBP traded down $0.27 during midday trading on Thursday, reaching $12.56. The company's stock had a trading volume of 1,451,267 shares, compared to its average volume of 1,900,309. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.78 and a quick ratio of 0.78. First BanCorp. has a fifty-two week low of $4.94 and a fifty-two week high of $13.25. The company has a market cap of $2.71 billion, a PE ratio of 17.32 and a beta of 1.41. The stock has a 50 day simple moving average of $12.35.
First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Sunday, April 25th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.24 by $0.07. First BanCorp. had a net margin of 19.08% and a return on equity of 7.73%. The company had revenue of $207.22 million for the quarter, compared to the consensus estimate of $206.49 million. During the same period last year, the company earned ($0.03) earnings per share. On average, research analysts predict that First BanCorp. will post 1.17 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 11th. Stockholders of record on Wednesday, May 26th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, May 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.23%. First BanCorp.'s dividend payout ratio (DPR) is presently 63.64%.
A number of brokerages have weighed in on FBP. Citigroup lifted their price target on shares of First BanCorp. from $10.00 to $120.00 in a research note on Wednesday, April 14th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of First BanCorp. from $10.00 to $120.00 in a research note on Wednesday, April 14th. Finally, Zacks Investment Research raised shares of First BanCorp. from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a research note on Tuesday, April 6th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP raised its holdings in shares of First BanCorp. by 75.9% in the first quarter. Quantbot Technologies LP now owns 2,991 shares of the bank's stock valued at $33,000 after purchasing an additional 1,291 shares during the last quarter. Toronto Dominion Bank acquired a new position in First BanCorp. during the fourth quarter worth $53,000. Point72 Hong Kong Ltd acquired a new position in First BanCorp. during the first quarter worth $83,000. Veriti Management LLC acquired a new position in First BanCorp. during the fourth quarter worth $91,000. Finally, ARS Investment Partners LLC acquired a new position in First BanCorp. during the first quarter worth $113,000. Institutional investors own 92.41% of the company's stock.
About First BanCorp.
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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