Bank of New York Mellon Corp Has $39.44 Million Stake in First BanCorp. (NYSE:FBP)

Bank of New York Mellon Corp reduced its position in First BanCorp. (NYSE:FBP - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,121,714 shares of the bank's stock after selling 403,608 shares during the period. Bank of New York Mellon Corp owned about 1.29% of First BanCorp. worth $39,443,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FBP. Gladius Capital Management LP purchased a new position in First BanCorp. during the 3rd quarter worth approximately $25,000. R Squared Ltd purchased a new position in First BanCorp. during the 4th quarter valued at about $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 valued at $42,000 after purchasing an additional 542 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of First BanCorp. in the third quarter worth approximately $66,000. Finally, KBC Group NV boosted its holdings in shares of First BanCorp. by 61.7% during the fourth quarter. KBC Group NV now owns 8,464 shares of the bank's stock worth $157,000 after purchasing an additional 3,230 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered their price target 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. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.40.

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First BanCorp. Stock Down 5.3 %

Shares of NYSE FBP traded down $0.99 during mid-day trading on Monday, reaching $17.51. 1,330,777 shares of the company traded hands, compared to its average volume of 944,431. The company's fifty day moving average is $19.67 and its two-hundred day moving average is $20.14. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. First BanCorp. has a fifty-two week low of $16.24 and a fifty-two week high of $22.40. The stock has a market cap of $2.87 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.89% and a net margin of 24.37%. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors 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 4.11%. The ex-dividend date was Friday, February 21st. First BanCorp.'s dividend payout ratio is presently 39.78%.

Insider Buying and Selling at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.75, for a total value of $214,160.75. Following the sale, the executive vice president now owns 176,222 shares of the company's stock, valued at $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company's stock.

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.