Mitsubishi UFJ Trust & Banking Corp Grows Stock Position in First BanCorp. (NYSE:FBP)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in First BanCorp. (NYSE:FBP - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 390,355 shares of the bank's stock after buying an additional 30,713 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.24% of First BanCorp. worth $7,257,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of First BanCorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock valued at $17,216,000 after buying an additional 37,432 shares during the last quarter. Martingale Asset Management L P boosted its holdings in shares of First BanCorp. by 63.3% in the 3rd quarter. Martingale Asset Management L P now owns 89,341 shares of the bank's stock valued at $1,891,000 after acquiring an additional 34,616 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of First BanCorp. in the fourth quarter worth $4,792,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of First BanCorp. during the fourth quarter worth $420,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First BanCorp. by 52.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock worth $1,149,000 after purchasing an additional 21,213 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of First BanCorp. stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.75, for a total value of $214,160.75. Following the sale, the executive vice president now owns 176,222 shares in the company, valued at $3,656,606.50. This trade represents a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.50% of the company's stock.

First BanCorp. Stock Performance

FBP stock traded down $0.77 during midday trading on Friday, hitting $17.10. 1,751,277 shares of the stock traded hands, compared to its average volume of 1,039,476. The stock's fifty day simple moving average is $19.44 and its 200-day simple moving average is $19.83. The firm has a market cap of $2.80 billion, a P/E ratio of 9.44, a PEG ratio of 1.34 and a beta of 1.12. First BanCorp. has a 1-year low of $16.25 and a 1-year 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.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, beating analysts' consensus estimates 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 previous year, the firm posted $0.46 EPS. On average, analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.18 dividend. The ex-dividend date was Friday, February 21st. 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 4.21%. First BanCorp.'s payout ratio is 39.78%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered 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 report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, First BanCorp. has an average rating of "Moderate Buy" and an average target price 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.