Aster Capital Management DIFC Ltd Invests $320,000 in First BanCorp. (NYSE:FBP)

Aster Capital Management DIFC Ltd bought a new stake in shares of First BanCorp. (NYSE:FBP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,229 shares of the bank's stock, valued at approximately $320,000.

Several other hedge funds also recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in First BanCorp. by 104.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,250 shares of the bank's stock worth $1,572,000 after acquiring an additional 37,856 shares during the period. Verition Fund Management LLC bought a new stake in First BanCorp. in the third quarter valued at about $257,000. Centiva Capital LP lifted its stake in First BanCorp. by 134.5% in the third quarter. Centiva Capital LP now owns 25,417 shares of the bank's stock valued at $538,000 after buying an additional 14,577 shares during the period. State Street Corp grew its position in shares of First BanCorp. by 3.9% during the 3rd quarter. State Street Corp now owns 9,193,684 shares of the bank's stock worth $194,630,000 after buying an additional 347,271 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of First BanCorp. in the 3rd quarter valued at about $1,038,000. Institutional investors own 97.91% of the company's stock.

Insider Transactions at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 176,222 shares of the company's stock, valued at approximately $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FBP shares. Wells Fargo & Company upgraded shares of First BanCorp. from an "equal weight" rating to an "overweight" rating and set a $20.00 price objective for the company in a report on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.40.

First BanCorp. Stock Up 0.8 %

Shares of FBP stock traded up $0.14 during trading hours on Friday, hitting $17.72. 1,208,436 shares of the company were exchanged, compared to its average volume of 1,059,273. First BanCorp. has a 52 week low of $16.25 and a 52 week high of $22.40. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $18.99 and a two-hundred day moving average of $19.68. The company has a market capitalization of $2.90 billion, a PE ratio of 9.79, a PEG ratio of 1.34 and a beta of 0.90.

First BanCorp. (NYSE:FBP - Get Free Report) last released its earnings results 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 return on equity of 18.89% and a net margin of 24.37%. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend yield of 4.06%. The ex-dividend date was Friday, February 21st. First BanCorp.'s dividend payout ratio (DPR) is currently 39.78%.

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.