Jane Street Group LLC Has $4.48 Million Holdings in First BanCorp. (NYSE:FBP)

Jane Street Group LLC trimmed its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 43.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 211,577 shares of the bank's stock after selling 164,800 shares during the quarter. Jane Street Group LLC owned approximately 0.13% of First BanCorp. worth $4,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of First BanCorp. by 3.9% in the 3rd quarter. State Street Corp now owns 9,193,684 shares of the bank's stock worth $194,630,000 after acquiring an additional 347,271 shares in the last quarter. LSV Asset Management boosted its stake in 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 purchasing an additional 301,443 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of First BanCorp. by 1.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,169,168 shares of the bank's stock worth $24,751,000 after purchasing an additional 16,432 shares during the last quarter. Algert Global LLC grew its holdings in shares of First BanCorp. by 2.9% during the third quarter. Algert Global LLC now owns 676,749 shares of the bank's stock worth $14,327,000 after purchasing an additional 19,290 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake 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 buying an additional 235,156 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Transactions at First BanCorp.

In related news, EVP Nayda Rivera sold 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the sale, the executive vice president now directly owns 236,490 shares in the company, valued at $5,011,223.10. This trade represents a 9.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.50% of the stock is owned by corporate insiders.

First BanCorp. Trading Down 4.6 %

NYSE:FBP traded down $0.89 on Wednesday, hitting $18.56. 1,345,042 shares of the stock were exchanged, compared to its average volume of 1,032,125. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.25, a P/E/G ratio of 1.82 and a beta of 1.12. 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 52 week low of $15.15 and a 52 week high of $22.40. The company's 50-day moving average price is $20.50 and its 200 day moving average price is $19.98.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $238.51 million. During the same period in the previous year, the firm posted $0.46 earnings per share. First BanCorp.'s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that First BanCorp. will post 1.76 earnings per share for the current year.

First BanCorp. Dividend Announcement

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

Wall Street Analyst Weigh In

FBP has been the topic of several research reports. Hovde Group reduced their price target on shares of First BanCorp. from $25.00 to $24.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Keefe, Bruyette & Woods upped their target price on shares of First BanCorp. from $24.00 to $25.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised 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. Finally, Piper Sandler dropped their price objective on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.60.

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.