86,801 Shares in First BanCorp. (NYSE:FBP) Purchased by Range Financial Group LLC

Range Financial Group LLC acquired a new position in shares of First BanCorp. (NYSE:FBP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 86,801 shares of the bank's stock, valued at approximately $1,614,000. Range Financial Group LLC owned approximately 0.05% of First BanCorp. at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of First BanCorp. by 4.7% during the 2nd quarter. Natixis Advisors LLC now owns 48,460 shares of the bank's stock worth $886,000 after purchasing an additional 2,166 shares during the last quarter. Los Angeles Capital Management LLC increased its position in First BanCorp. by 5.3% during the second quarter. Los Angeles Capital Management LLC now owns 56,040 shares of the bank's stock worth $1,025,000 after buying an additional 2,814 shares during the last quarter. LSV Asset Management raised its holdings in First BanCorp. by 22.9% during the second quarter. LSV Asset Management now owns 1,619,842 shares of the bank's stock valued at $29,627,000 after buying an additional 301,443 shares in the last quarter. X Square Capital LLC lifted its position in shares of First BanCorp. by 45.2% in the second quarter. X Square Capital LLC now owns 351,170 shares of the bank's stock worth $6,423,000 after buying an additional 109,340 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of First BanCorp. during the 2nd quarter worth about $207,000. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Buying and Selling at First BanCorp.

In related news, EVP Nayda Rivera sold 25,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the sale, the executive vice president now owns 236,490 shares of the company's stock, valued at $5,011,223.10. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FBP shares. Wells Fargo & Company reduced their target price on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday. Hovde Group reduced their price objective on shares of First BanCorp. from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Piper Sandler decreased their price objective on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First BanCorp. from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.20.

First BanCorp. Stock Performance

Shares of FBP stock traded down $0.07 during trading hours on Tuesday, reaching $18.38. 1,251,303 shares of the company's stock were exchanged, compared to its average volume of 850,401. The business has a fifty day moving average price of $20.00 and a 200-day moving average price of $20.11. The stock has a market capitalization of $3.01 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.79 and a beta of 1.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.36. First BanCorp. has a fifty-two week low of $15.15 and a fifty-two week high of $22.40.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.04. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The firm had revenue of $234.57 million during the quarter, compared to the consensus estimate of $238.51 million. During the same period in the prior year, the firm earned $0.46 EPS. The business's revenue was up 2.0% on a year-over-year basis. Analysts predict that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.48%. First BanCorp.'s dividend payout ratio is 35.36%.

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.