First BanCorp. (NYSE:FBP) Shares Acquired by Barclays PLC

Barclays PLC grew its position in First BanCorp. (NYSE:FBP - Free Report) by 106.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 367,445 shares of the bank's stock after purchasing an additional 189,148 shares during the period. Barclays PLC owned approximately 0.22% of First BanCorp. worth $7,779,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FBP. Gladius Capital Management LP acquired a new position in First BanCorp. in the 3rd quarter worth approximately $25,000. Blue Trust Inc. boosted its holdings in shares of First BanCorp. by 5,054.5% in the 3rd quarter. Blue Trust Inc. now owns 1,701 shares of the bank's stock valued at $36,000 after acquiring an additional 1,668 shares during the last quarter. CWM LLC increased its stake in shares of First BanCorp. by 222.6% in the third quarter. CWM LLC now owns 2,829 shares of the bank's stock worth $60,000 after acquiring an additional 1,952 shares during the period. USA Financial Formulas boosted its holdings in First BanCorp. by 166.7% in the third quarter. USA Financial Formulas now owns 3,574 shares of the bank's stock valued at $76,000 after purchasing an additional 2,234 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in First BanCorp. in the third quarter valued at $205,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

First BanCorp. Price Performance

Shares of First BanCorp. stock traded down $0.89 on Wednesday, reaching $18.56. The company's stock had a trading volume of 1,345,042 shares, compared to its average volume of 1,032,125. First BanCorp. has a 52-week low of $15.15 and a 52-week high of $22.40. The company has a market capitalization of $3.04 billion, a P/E ratio of 10.25, a PEG ratio of 1.82 and a beta of 1.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $20.50 and a 200-day moving average price of $19.98.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The business had revenue of $234.57 million for the quarter, compared to the consensus estimate of $238.51 million. During the same period last year, the firm posted $0.46 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. Analysts expect that First BanCorp. will post 1.76 EPS for the current year.

First BanCorp. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.45%. First BanCorp.'s dividend payout ratio (DPR) is presently 35.36%.

Insider Transactions at First BanCorp.

In related news, EVP Nayda Rivera sold 25,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.19, for a total transaction of $529,750.00. Following the transaction, the executive vice president now directly owns 236,490 shares in the company, valued at approximately $5,011,223.10. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FBP shares. Hovde Group decreased their price objective on First BanCorp. from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $24.00 to $25.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on First BanCorp. from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler cut their target price on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, First BanCorp. currently has an average rating of "Moderate Buy" and a consensus target price of $22.60.

About First BanCorp.

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.