X Square Capital LLC Has $6.65 Million Stock Holdings in First BanCorp. (NYSE:FBP)

X Square Capital LLC trimmed its position in shares of First BanCorp. (NYSE:FBP - Free Report) by 10.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 314,170 shares of the bank's stock after selling 37,000 shares during the quarter. First BanCorp. comprises about 2.9% of X Square Capital LLC's holdings, making the stock its 3rd biggest holding. X Square Capital LLC owned 0.19% of First BanCorp. worth $6,651,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its holdings in shares of First BanCorp. by 69.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 77,452 shares of the bank's stock valued at $1,359,000 after purchasing an additional 31,692 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in First BanCorp. by 239.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 96,145 shares of the bank's stock valued at $1,686,000 after acquiring an additional 67,844 shares during the period. Wellington Management Group LLP boosted its holdings in shares of First BanCorp. by 2,172.9% during the 4th quarter. Wellington Management Group LLP now owns 1,039,557 shares of the bank's stock valued at $17,101,000 after acquiring an additional 993,819 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of First BanCorp. in the first quarter worth approximately $16,719,000. Finally, LSV Asset Management raised its holdings in shares of First BanCorp. by 18.7% during the first quarter. LSV Asset Management now owns 1,318,399 shares of the bank's stock valued at $23,125,000 after purchasing an additional 207,510 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First BanCorp. news, EVP Michael Mcdonald sold 1,944 shares of First BanCorp. stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.51, for a total value of $41,815.44. Following the sale, the executive vice president now directly owns 87,476 shares in the company, valued at approximately $1,881,608.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Michael Mcdonald sold 1,944 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.51, for a total transaction of $41,815.44. Following the sale, the executive vice president now owns 87,476 shares of the company's stock, valued at $1,881,608.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Power sold 22,896 shares of the business's stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $21.53, for a total transaction of $492,950.88. Following the completion of the sale, the executive vice president now owns 232,340 shares in the company, valued at approximately $5,002,280.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,452 shares of company stock worth $699,566. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FBP. Hovde Group lifted their price objective on First BanCorp. from $21.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Wells Fargo & Company dropped their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Thursday. Raymond James assumed coverage on shares of First BanCorp. in a report on Tuesday, July 9th. They set an "outperform" rating and a $21.00 target price for the company. Finally, Piper Sandler dropped their price target on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.60.

First BanCorp. Price Performance

Shares of FBP stock traded up $0.02 on Thursday, hitting $19.32. 1,354,765 shares of the stock traded hands, compared to its average volume of 1,035,783. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.77 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $20.65 and a two-hundred day simple moving average of $19.18. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 1.72 and a beta of 1.10. First BanCorp. has a 52 week low of $12.88 and a 52 week high of $22.12.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. First BanCorp. had a return on equity of 21.86% and a net margin of 25.91%. The company had revenue of $234.57 million for the quarter, compared to analysts' expectations of $238.51 million. During the same period in the previous year, the firm earned $0.46 EPS. The firm's revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

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.