Amundi Purchases 55,379 Shares of First BanCorp. (NYSE:FBP)

Amundi boosted its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 173.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,309 shares of the bank's stock after acquiring an additional 55,379 shares during the period. Amundi owned 0.05% of First BanCorp. worth $1,631,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in First BanCorp. during the third quarter worth about $25,000. R Squared Ltd purchased a new position in First BanCorp. in the 4th quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in shares of First BanCorp. by 31.9% in the 4th 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of First BanCorp. during the 3rd quarter valued at $66,000. Finally, Smartleaf Asset Management LLC increased its stake in First BanCorp. by 394.8% in the fourth 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 during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now owns 176,222 shares of the company's stock, valued at $3,656,606.50. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.50% of the company's stock.

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First BanCorp. Trading Up 2.5 %

Shares of NYSE FBP traded up $0.45 during mid-day trading on Friday, hitting $18.82. The stock had a trading volume of 7,962,318 shares, compared to its average volume of 965,149. The business has a 50 day moving average price of $19.57 and a two-hundred day moving average price of $19.96. First BanCorp. has a 1 year low of $16.25 and a 1 year high of $22.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $3.08 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $0.46 earnings per share. On average, equities analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.18 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.72 annualized dividend and a yield of 3.83%. This is a boost from First BanCorp.'s previous quarterly dividend of $0.16. First BanCorp.'s dividend payout ratio (DPR) is 39.78%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average 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.