First BanCorp. (NYSE:FBP) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 367,258 shares of the bank's stock after buying an additional 33,651 shares during the quarter. Edgestream Partners L.P. owned approximately 0.22% of First BanCorp. worth $6,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of First BanCorp. by 31.9% in the fourth 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 grew its position in shares of First BanCorp. by 17.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank's stock valued at $68,000 after purchasing an additional 544 shares during the period. Gladius Capital Management LP acquired a new stake in shares of First BanCorp. in the third quarter valued at about $25,000. Pathstone Holdings LLC grew its position in shares of First BanCorp. by 0.9% in the third quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank's stock valued at $3,393,000 after purchasing an additional 1,435 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of First BanCorp. in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of First BanCorp. stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the sale, the executive vice president now directly owns 176,222 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FBP. Wells Fargo & Company dropped 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 research report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the stock 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 assigned a buy rating to the company. According to data from MarketBeat.com, First BanCorp. presently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

First BanCorp. Price Performance

Shares of NYSE:FBP traded up $0.02 during midday trading on Friday, hitting $18.54. The company's stock had a trading volume of 924,449 shares, compared to its average volume of 942,880. The business's 50 day simple moving average is $19.67 and its 200 day simple moving average is $20.15. 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 company has a market cap of $3.04 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. First BanCorp. has a 12-month low of $16.24 and a 12-month high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its earnings results on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, topping analysts' consensus estimates 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 firm earned $0.46 EPS. On average, analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from First BanCorp.'s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.88%. First BanCorp.'s dividend payout ratio (DPR) is currently 39.78%.

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.