Tudor Investment Corp ET AL Grows Holdings in First BanCorp. (NYSE:FBP)

Tudor Investment Corp ET AL increased its stake in First BanCorp. (NYSE:FBP - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,857 shares of the bank's stock after buying an additional 28,760 shares during the period. Tudor Investment Corp ET AL owned about 0.17% of First BanCorp. worth $5,295,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FBP. Vanguard Group Inc. increased its position in shares of First BanCorp. by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 21,462,121 shares of the bank's stock worth $398,981,000 after purchasing an additional 63,304 shares during the last quarter. American Century Companies Inc. grew its stake in First BanCorp. by 1.2% in the fourth quarter. American Century Companies Inc. now owns 6,724,074 shares of the bank's stock worth $125,001,000 after purchasing an additional 78,129 shares in the last quarter. First Trust Advisors LP increased its holdings in First BanCorp. by 42.8% in the fourth quarter. First Trust Advisors LP now owns 4,871,338 shares of the bank's stock valued at $90,558,000 after buying an additional 1,460,789 shares during the last quarter. Geode Capital Management LLC raised its stake in First BanCorp. by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,462,862 shares of the bank's stock valued at $82,981,000 after buying an additional 76,256 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in First BanCorp. by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,685,588 shares of the bank's stock worth $49,926,000 after buying an additional 248,335 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBP has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods increased their target price 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, First BanCorp. has a consensus rating of "Moderate Buy" and an average target price of $22.80.

First BanCorp. Price Performance

Shares of FBP opened at $19.62 on Thursday. 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 market cap of $3.20 billion, a P/E ratio of 10.84, a PEG ratio of 1.34 and a beta of 0.90. First BanCorp. has a 12 month low of $16.40 and a 12 month high of $22.40. The stock has a fifty day moving average price of $18.56 and a 200 day moving average price of $19.54.

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

First BanCorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.'s payout ratio is currently 39.13%.

Insiders Place Their Bets

In other news, EVP Carlos Power sold 45,797 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.77, for a total value of $951,203.69. Following the completion of the sale, the executive vice president now directly owns 186,543 shares of the company's stock, valued at approximately $3,874,498.11. This represents a 19.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

First BanCorp. Company 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.

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