Boston Partners Has $1.27 Million Stake in First BanCorp. (NYSE:FBP)

Boston Partners decreased its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 45.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 68,259 shares of the bank's stock after selling 55,843 shares during the quarter. Boston Partners' holdings in First BanCorp. were worth $1,269,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in shares of First BanCorp. by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock worth $17,216,000 after acquiring an additional 37,432 shares during the period. Martingale Asset Management L P lifted its position in First BanCorp. by 63.3% in the third quarter. Martingale Asset Management L P now owns 89,341 shares of the bank's stock worth $1,891,000 after purchasing an additional 34,616 shares during the period. Assenagon Asset Management S.A. bought a new stake in First BanCorp. in the 4th quarter valued at $4,792,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of First BanCorp. in the 4th quarter valued at $420,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First BanCorp. by 52.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock worth $1,149,000 after acquiring an additional 21,213 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Price Performance

Shares of NYSE:FBP traded up $0.02 during trading on Wednesday, reaching $19.44. The stock had a trading volume of 1,086,432 shares, compared to its average volume of 962,943. The stock has a market capitalization of $3.19 billion, a PE ratio of 10.74, a P/E/G ratio of 1.34 and a beta of 1.12. First BanCorp. has a 52 week low of $16.25 and a 52 week high of $22.40. The business's 50-day moving average price is $19.60 and its 200 day moving average price is $19.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80.

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First BanCorp. (NYSE:FBP - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, topping 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 previous year, the firm earned $0.46 EPS. As a group, equities analysts predict that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued 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 currently 39.78%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FBP. Wells Fargo & Company dropped their price target on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating for the company in a research 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 research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, First BanCorp. presently has an average rating of "Moderate Buy" and an average target price of $22.40.

Insider Activity at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total transaction of $214,160.75. Following the transaction, the executive vice president now owns 176,222 shares in the company, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is currently owned by company insiders.

First BanCorp. 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.