Tudor Investment Corp ET AL Has $5.30 Million Stake in First BanCorp. (NYSE:FBP)

Tudor Investment Corp ET AL lifted its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 11.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 284,857 shares of the bank's stock after buying an additional 28,760 shares during the quarter. Tudor Investment Corp ET AL owned about 0.17% of First BanCorp. worth $5,295,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FBP. R Squared Ltd bought a new stake in First BanCorp. in the 4th quarter valued at about $28,000. Picton Mahoney Asset Management boosted its stake in shares of 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 buying an additional 514 shares during the period. Blue Trust Inc. grew its position in First BanCorp. by 31.9% during the fourth quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock worth $42,000 after buying an additional 542 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in First BanCorp. during the 3rd quarter worth $66,000. Finally, Smartleaf Asset Management LLC raised its holdings in First BanCorp. by 394.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock valued at $70,000 after acquiring an additional 3,032 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

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

First BanCorp. Price Performance

Shares of FBP stock traded down $0.06 on Tuesday, hitting $20.11. 83,597 shares of the company's stock were exchanged, compared to its average volume of 1,078,720. First BanCorp. has a 12 month low of $16.40 and a 12 month high of $22.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average of $18.61 and a 200 day moving average of $19.49. The stock has a market cap of $3.28 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The firm had revenue of $248.13 million during the quarter, compared to analysts' expectations of $243.08 million. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, equities research analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders 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 dividend on an annualized basis and a yield of 3.58%. First BanCorp.'s dividend payout ratio is currently 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.