American Century Companies Inc. Grows Stock Position in First BanCorp. (NYSE:FBP)

American Century Companies Inc. boosted its stake in First BanCorp. (NYSE:FBP - Free Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,724,074 shares of the bank's stock after buying an additional 78,129 shares during the quarter. American Century Companies Inc. owned approximately 4.10% of First BanCorp. worth $125,001,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quantbot Technologies LP bought a new position in shares of First BanCorp. during the fourth quarter valued at about $2,804,000. Summit Global Investments purchased a new stake in shares of First BanCorp. during the 4th quarter valued at $1,167,000. Intech Investment Management LLC raised its stake in shares of First BanCorp. by 267.2% during the 4th quarter. Intech Investment Management LLC now owns 705,075 shares of the bank's stock worth $13,107,000 after purchasing an additional 513,063 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of First BanCorp. by 124.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 322,119 shares of the bank's stock worth $5,988,000 after buying an additional 178,660 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in First BanCorp. during the fourth quarter valued at $282,000. 97.91% of the stock is currently owned by institutional investors.

First BanCorp. Stock Up 0.1 %

Shares of NYSE FBP traded up $0.03 on Thursday, reaching $19.45. 1,077,482 shares of the company's stock traded hands, compared to its average volume of 964,580. The business's 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $19.90. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. First BanCorp. has a 12 month low of $16.25 and a 12 month high of $22.40.

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First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same period in the prior year, the business earned $0.46 EPS. As a group, equities research analysts forecast that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.18 per share. This is a boost from First BanCorp.'s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Friday, February 21st. First BanCorp.'s payout ratio is presently 39.78%.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the company'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 completion of the sale, the executive vice president now owns 176,222 shares in the company, valued at $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FBP shares. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company lowered their price objective on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.40.

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.