Intech Investment Management LLC Has $13.11 Million Holdings in First BanCorp. (NYSE:FBP)

Intech Investment Management LLC grew its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 267.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 705,075 shares of the bank's stock after buying an additional 513,063 shares during the period. Intech Investment Management LLC owned 0.43% of First BanCorp. worth $13,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FBP. State Street Corp raised its holdings in shares of First BanCorp. by 3.9% during the third quarter. State Street Corp now owns 9,193,684 shares of the bank's stock valued at $194,630,000 after buying an additional 347,271 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of First BanCorp. during the fourth quarter valued at approximately $4,792,000. Barclays PLC increased its stake in shares of First BanCorp. by 106.1% during the third quarter. Barclays PLC now owns 367,445 shares of the bank's stock valued at $7,779,000 after acquiring an additional 189,148 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of First BanCorp. by 124.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 322,119 shares of the bank's stock valued at $5,988,000 after acquiring an additional 178,660 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of First BanCorp. during the third quarter valued at approximately $2,607,000. Institutional investors own 97.91% of the company's stock.

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First BanCorp. Trading Up 2.5 %

First BanCorp. stock traded up $0.45 during midday trading on Friday, reaching $18.82. The stock had a trading volume of 8,042,827 shares, compared to its average volume of 959,273. The firm's fifty day simple moving average is $19.58 and its two-hundred day simple moving average is $19.94. First BanCorp. has a twelve month low of $16.25 and a twelve month high of $22.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data 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 period last year, the business posted $0.46 earnings per share. Equities analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from First BanCorp.'s previous quarterly dividend of $0.16. First BanCorp.'s dividend payout ratio (DPR) is 39.78%.

Insider Buying and Selling at First BanCorp.

In related news, EVP Carlos Power sold 45,797 shares of First BanCorp. stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $20.77, for a total value of $951,203.69. Following the completion of the sale, the executive vice president now owns 186,543 shares of the company's stock, valued at approximately $3,874,498.11. The trade was a 19.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FBP shares. Keefe, Bruyette & Woods raised their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target 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. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.40.

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.