First BanCorp. (NYSE:FBP) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its holdings in First BanCorp. (NYSE:FBP - Free Report) by 17.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,900 shares of the bank's stock after selling 28,404 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.08% of First BanCorp. worth $2,750,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FBP. CANADA LIFE ASSURANCE Co increased its stake in shares of First BanCorp. by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 176,964 shares of the bank's stock worth $3,101,000 after purchasing an additional 815 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of First BanCorp. by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 57,876 shares of the bank's stock valued at $1,059,000 after acquiring an additional 856 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of First BanCorp. by 8.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,852 shares of the bank's stock worth $217,000 after acquiring an additional 971 shares during the last quarter. FCG Investment Co raised its stake in First BanCorp. by 4.8% in the 2nd quarter. FCG Investment Co now owns 30,111 shares of the bank's stock valued at $551,000 after purchasing an additional 1,375 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in First BanCorp. by 4.3% in the 1st quarter. ProShare Advisors LLC now owns 33,708 shares of the bank's stock valued at $591,000 after purchasing an additional 1,396 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Trading Down 2.3 %

Shares of FBP stock traded down $0.45 during trading on Friday, hitting $18.88. 1,399,847 shares of the stock traded hands, compared to its average volume of 1,037,542. First BanCorp. has a 52-week low of $12.95 and a 52-week high of $22.12. The firm has a market capitalization of $3.14 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. The firm's fifty day moving average price is $20.60 and its 200-day moving average price is $19.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.77 and a quick ratio of 0.76.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James started coverage on shares of First BanCorp. in a research report on Tuesday, July 9th. They issued an "outperform" rating and a $21.00 target price for the company. Hovde Group decreased their target price on shares of First BanCorp. from $25.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price target on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Piper Sandler reduced their price objective on First BanCorp. from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday. Two research 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, First BanCorp. has a consensus rating of "Moderate Buy" and a consensus target price of $21.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Michael Mcdonald sold 7,612 shares of First BanCorp. stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $21.65, for a total transaction of $164,799.80. Following the completion of the sale, the executive vice president now directly owns 89,420 shares in the company, valued at $1,935,943. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Carlos Power sold 22,896 shares of the business's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $21.53, for a total value of $492,950.88. Following the sale, the executive vice president now owns 232,340 shares in the company, valued at approximately $5,002,280.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Mcdonald sold 7,612 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $21.65, for a total value of $164,799.80. Following the transaction, the executive vice president now owns 89,420 shares of the company's stock, valued at $1,935,943. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,452 shares of company stock valued at $699,566 over the last 90 days. 2.50% of the stock is owned by insiders.

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.