Voya Investment Management LLC Has $12.25 Million Stake in First BanCorp. (NYSE:FBP)

Voya Investment Management LLC grew its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 659,052 shares of the bank's stock after buying an additional 70,528 shares during the quarter. Voya Investment Management LLC owned 0.40% of First BanCorp. worth $12,252,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FBP. R Squared Ltd purchased a new stake in First BanCorp. during the 4th quarter worth $28,000. Picton Mahoney Asset Management lifted its stake in shares of First BanCorp. by 48.2% during 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 in the last quarter. Blue Trust Inc. boosted its position in shares of 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 buying an additional 542 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in First BanCorp. in the third quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC grew its holdings in First BanCorp. by 394.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Price Performance

Shares of FBP traded up $0.51 during mid-day trading on Friday, hitting $20.33. The company's stock had a trading volume of 915,249 shares, compared to its average volume of 1,084,628. The firm has a 50-day moving average price of $18.59 and a 200 day moving average price of $19.50. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. First BanCorp. has a fifty-two week low of $16.40 and a fifty-two week 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. 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 company's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, research analysts predict that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 29th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, May 29th. First BanCorp.'s payout ratio is presently 39.13%.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the sale, the executive vice president now directly owns 176,222 shares in the company, valued at approximately $3,656,606.50. This represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of First BanCorp. from $20.00 to $22.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.80.

First BanCorp. 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.