First BanCorp. (NYSE:FBP) Stock Holdings Trimmed by Stieven Capital Advisors L.P.

Stieven Capital Advisors L.P. lowered its position in First BanCorp. (NYSE:FBP - Free Report) by 31.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,210 shares of the bank's stock after selling 149,300 shares during the quarter. First BanCorp. accounts for approximately 1.3% of Stieven Capital Advisors L.P.'s holdings, making the stock its 29th biggest holding. Stieven Capital Advisors L.P. owned about 0.19% of First BanCorp. worth $6,737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBP. Vanguard Group Inc. lifted its stake in shares of First BanCorp. by 2.0% in the first quarter. Vanguard Group Inc. now owns 22,414,701 shares of the bank's stock worth $393,154,000 after acquiring an additional 448,845 shares in the last quarter. LSV Asset Management increased its holdings in First BanCorp. by 22.9% during the 2nd quarter. LSV Asset Management now owns 1,619,842 shares of the bank's stock worth $29,627,000 after purchasing an additional 301,443 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of First BanCorp. by 9.9% in the 1st quarter. Russell Investments Group Ltd. now owns 676,817 shares of the bank's stock valued at $11,871,000 after purchasing an additional 60,844 shares in the last quarter. Algert Global LLC boosted its stake in shares of First BanCorp. by 4.1% during the 2nd quarter. Algert Global LLC now owns 657,459 shares of the bank's stock valued at $12,025,000 after buying an additional 25,958 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in shares of First BanCorp. by 55.8% during the second quarter. Panagora Asset Management Inc. now owns 656,855 shares of the bank's stock worth $12,014,000 after buying an additional 235,156 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at First BanCorp.

In related news, EVP Michael Mcdonald sold 1,944 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $21.51, for a total transaction of $41,815.44. Following the completion of the transaction, the executive vice president now directly owns 87,476 shares in the company, valued at $1,881,608.76. This represents a 2.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nayda Rivera sold 25,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the completion of the sale, the executive vice president now owns 236,490 shares in the company, valued at $5,011,223.10. The trade was a 9.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,556 shares of company stock worth $736,365. 2.50% of the stock is currently owned by company insiders.

First BanCorp. Stock Performance

First BanCorp. stock traded up $0.01 during mid-day trading on Friday, reaching $20.94. The company's stock had a trading volume of 828,410 shares, compared to its average volume of 1,106,088. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36. First BanCorp. has a twelve month low of $14.72 and a twelve month high of $22.40. The business has a 50 day moving average price of $20.43 and a 200-day moving average price of $19.56. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.89 and a beta of 1.11.

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, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $234.57 million during the quarter, compared to analyst estimates of $238.51 million. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Sell-side analysts predict that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, November 29th. First BanCorp.'s dividend payout ratio (DPR) is presently 35.36%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. Hovde Group dropped their target price on shares of First BanCorp. from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, Wells Fargo & Company reduced their price target on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.40.

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.