Sei Investments Co. Boosts Stock Holdings in First BanCorp. (NYSE:FBP)

Sei Investments Co. lifted its position in First BanCorp. (NYSE:FBP - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 437,437 shares of the bank's stock after buying an additional 20,256 shares during the period. Sei Investments Co. owned about 0.27% of First BanCorp. worth $8,132,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in First BanCorp. during the 4th quarter valued at $28,000. Picton Mahoney Asset Management raised its holdings in shares of First BanCorp. by 48.2% during the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock valued at $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. lifted its position in First BanCorp. by 31.9% during the fourth 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 bought a new stake in First BanCorp. in the 3rd quarter worth approximately $66,000. Finally, Smartleaf Asset Management LLC grew its position in First BanCorp. by 394.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank's stock worth $70,000 after purchasing an additional 3,032 shares during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Performance

NYSE FBP traded down $1.50 on Thursday, hitting $17.86. 1,950,012 shares of the company traded hands, compared to its average volume of 1,035,583. The business's 50 day moving average price is $19.51 and its 200-day moving average price is $19.86. First BanCorp. has a 52-week low of $16.25 and a 52-week high of $22.40. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 9.87, a P/E/G ratio of 1.34 and a beta of 1.12.

Remove Ads

First BanCorp. (NYSE:FBP - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share (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 prior year, the firm posted $0.46 earnings per share. Equities analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The company also recently disclosed 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. This represents a $0.72 annualized dividend and a dividend yield of 4.03%. This is an increase from First BanCorp.'s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, February 21st. First BanCorp.'s dividend payout ratio (DPR) is presently 39.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped 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. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.40.

Insider Activity at First BanCorp.

In other news, EVP Carlos Power sold 45,797 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.77, for a total transaction of $951,203.69. Following the completion of the transaction, the executive vice president now owns 186,543 shares in the company, valued at $3,874,498.11. This trade represents a 19.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.50% of the stock is owned by corporate insiders.

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.