Jupiter Asset Management Ltd. Sells 320,700 Shares of First BanCorp. (NYSE:FBP)

Jupiter Asset Management Ltd. trimmed its position in First BanCorp. (NYSE:FBP - Free Report) by 52.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 284,968 shares of the bank's stock after selling 320,700 shares during the period. Jupiter Asset Management Ltd. owned about 0.17% of First BanCorp. worth $5,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its holdings in shares of First BanCorp. by 4.3% in the third quarter. Natixis Advisors LLC now owns 50,528 shares of the bank's stock valued at $1,070,000 after acquiring an additional 2,068 shares in the last quarter. Gladius Capital Management LP bought a new position in First BanCorp. in the 3rd quarter valued at $25,000. Pathstone Holdings LLC increased its position in shares of First BanCorp. by 0.9% during the 3rd 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 last quarter. Intech Investment Management LLC raised its stake in shares of First BanCorp. by 135.7% during the 3rd quarter. Intech Investment Management LLC now owns 192,012 shares of the bank's stock worth $4,065,000 after purchasing an additional 110,531 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of First BanCorp. by 10.7% in the 3rd quarter. Citigroup Inc. now owns 339,438 shares of the bank's stock worth $7,186,000 after buying an additional 32,825 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

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First BanCorp. Stock Performance

Shares of NYSE:FBP traded up $0.03 during midday trading on Monday, reaching $18.29. 1,685,998 shares of the company traded hands, compared to its average volume of 929,510. The firm's fifty day moving average price is $19.58 and its two-hundred day moving average price is $20.02. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. First BanCorp. has a 12 month low of $16.25 and a 12 month high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share (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 in the prior year, the business earned $0.46 EPS. On average, equities analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.18 per share. This is a positive change 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 3.94%. The ex-dividend date of this dividend was Friday, February 21st. First BanCorp.'s payout ratio is 39.78%.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the business'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 completion of the transaction, the executive vice president now owns 176,222 shares of the company's stock, valued at approximately $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

FBP has been the topic of a number of research analyst reports. 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 note on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

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.