Schroder Investment Management Group Has $27.58 Million Stock Holdings in First BanCorp. (NYSE:FBP)

Schroder Investment Management Group reduced its position in First BanCorp. (NYSE:FBP - Free Report) by 28.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,486,958 shares of the bank's stock after selling 595,883 shares during the period. Schroder Investment Management Group owned 0.91% of First BanCorp. worth $27,583,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in First BanCorp. by 48.2% in the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock valued at $29,000 after acquiring an additional 514 shares during the last quarter. Blue Trust Inc. lifted its position in First BanCorp. by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock valued at $42,000 after purchasing an additional 542 shares during the period. Wilmington Savings Fund Society FSB lifted its position in First BanCorp. by 17.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank's stock valued at $68,000 after purchasing an additional 544 shares during the period. R Squared Ltd bought a new position in shares of First BanCorp. in the 4th quarter valued at about $28,000. Finally, Wedge Capital Management L L P NC grew its position in shares of First BanCorp. by 3.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 60,325 shares of the bank's stock worth $1,121,000 after buying an additional 2,042 shares during the period. Institutional investors own 97.91% of the company's stock.

Analysts Set New Price Targets

FBP has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price objective 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. Wells Fargo & Company cut their price target on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, First BanCorp. has an average rating of "Moderate Buy" and an average price target of $22.40.

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First BanCorp. Trading Down 4.3 %

NYSE FBP traded down $0.77 during trading on Friday, reaching $17.10. 1,751,277 shares of the stock traded hands, compared to its average volume of 1,039,476. First BanCorp. has a fifty-two week low of $16.25 and a fifty-two week high of $22.40. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. The stock's 50-day moving average price is $19.51 and its 200 day moving average price is $19.86.

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

First BanCorp. Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.21%. This is a positive change from First BanCorp.'s previous quarterly dividend of $0.16. First BanCorp.'s dividend payout ratio (DPR) is currently 39.78%.

Insider Activity

In related news, EVP Carlos Power sold 10,321 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction of $214,160.75. Following the sale, the executive vice president now directly 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 legal filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by company 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.