First BanCorp. (NYSE:FBP) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of First BanCorp. (NYSE:FBP - Free Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 390,355 shares of the bank's stock after purchasing an additional 30,713 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.24% of First BanCorp. worth $7,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FBP. Vanguard Group Inc. raised its stake in First BanCorp. by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 21,462,121 shares of the bank's stock worth $398,981,000 after purchasing an additional 63,304 shares during the period. State Street Corp raised its position 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 buying an additional 347,271 shares during the period. American Century Companies Inc. raised its position in shares of First BanCorp. by 1.2% in the 4th quarter. American Century Companies Inc. now owns 6,724,074 shares of the bank's stock worth $125,001,000 after buying an additional 78,129 shares during the period. Geode Capital Management LLC boosted its holdings in First BanCorp. by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,386,606 shares of the bank's stock valued at $92,879,000 after acquiring an additional 112,432 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in 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 valued at $24,751,000 after acquiring an additional 16,432 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

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Insider Activity

In related 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 value of $214,160.75. Following the transaction, the executive vice president now owns 176,222 shares in the company, valued at approximately $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBP. Wells Fargo & Company cut their price objective on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a 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 company an "outperform" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, First BanCorp. has a consensus rating of "Moderate Buy" and a consensus target price of $22.40.

First BanCorp. Stock Down 5.4 %

Shares of FBP traded down $1.05 during midday trading on Thursday, reaching $18.31. 703,226 shares of the company were exchanged, compared to its average volume of 1,154,690. First BanCorp. has a 1-year low of $16.25 and a 1-year high of $22.40. The stock has a 50-day moving average price of $19.57 and a 200-day moving average price of $19.87. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. During the same quarter in the prior year, the company posted $0.46 EPS. Research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The company also recently announced 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 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 3.93%. The ex-dividend date of this dividend was Friday, February 21st. First BanCorp.'s payout ratio is presently 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.