BNP Paribas Financial Markets Has $1.57 Million Stake in First BanCorp. (NYSE:FBP)

BNP Paribas Financial Markets raised its holdings in First BanCorp. (NYSE:FBP - Free Report) by 104.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,250 shares of the bank's stock after acquiring an additional 37,856 shares during the quarter. BNP Paribas Financial Markets' holdings in First BanCorp. were worth $1,572,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake in shares of First BanCorp. by 22.9% in the second quarter. LSV Asset Management now owns 1,619,842 shares of the bank's stock worth $29,627,000 after buying an additional 301,443 shares during the last quarter. Algert Global LLC boosted its holdings in First BanCorp. by 2.9% during the third quarter. Algert Global LLC now owns 676,749 shares of the bank's stock valued at $14,327,000 after acquiring an additional 19,290 shares during the period. Panagora Asset Management Inc. grew its position in shares of First BanCorp. by 55.8% in the second quarter. Panagora Asset Management Inc. now owns 656,855 shares of the bank's stock valued at $12,014,000 after purchasing an additional 235,156 shares during the last quarter. Prospector Partners LLC increased its stake in shares of First BanCorp. by 0.7% in the second quarter. Prospector Partners LLC now owns 489,495 shares of the bank's stock worth $8,953,000 after purchasing an additional 3,170 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in shares of First BanCorp. by 5.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 363,876 shares of the bank's stock worth $6,655,000 after purchasing an additional 18,693 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

First BanCorp. Price Performance

First BanCorp. stock traded down $0.06 during trading hours on Monday, hitting $20.52. 833,597 shares of the stock were exchanged, compared to its average volume of 1,034,482. The stock has a market capitalization of $3.36 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.86 and a beta of 1.12. The business's 50-day moving average is $20.53 and its two-hundred day moving average is $19.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.78 and a current ratio of 0.78. First BanCorp. has a 12 month low of $15.15 and a 12 month high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. First BanCorp. had a return on equity of 19.91% and a net margin of 24.94%. The business had revenue of $234.57 million for the quarter, compared to analyst estimates of $238.51 million. During the same period in the prior year, the company earned $0.46 EPS. First BanCorp.'s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.12%. First BanCorp.'s dividend payout ratio (DPR) is 35.36%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, EVP Nayda Rivera sold 25,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $21.19, for a total transaction of $529,750.00. Following the completion of the sale, the executive vice president now owns 236,490 shares in the company, valued at $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 is available through this link. Insiders own 2.50% of the company's stock.

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.