Thrivent Financial for Lutherans Grows Stock Holdings in First BanCorp. (NYSE:FBP)

Thrivent Financial for Lutherans lifted its holdings in First BanCorp. (NYSE:FBP - Free Report) by 124.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 322,119 shares of the bank's stock after purchasing an additional 178,660 shares during the quarter. Thrivent Financial for Lutherans owned 0.20% of First BanCorp. worth $5,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. R Squared Ltd bought a new position in First BanCorp. in the 4th quarter worth $28,000. Picton Mahoney Asset Management lifted its position in shares of First BanCorp. by 48.2% during the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank's stock valued at $29,000 after buying an additional 514 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 acquiring an additional 542 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of First BanCorp. during the 3rd quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC increased its holdings 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 acquiring an additional 3,032 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

First BanCorp. Price Performance

FBP traded up $0.03 during trading hours on Thursday, hitting $19.45. The company's stock had a trading volume of 1,077,482 shares, compared to its average volume of 964,580. First BanCorp. has a 12 month low of $16.25 and a 12 month 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 business's 50-day moving average price is $19.60 and its 200-day moving average price is $19.90. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.34 and a beta of 1.12.

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First BanCorp. (NYSE:FBP - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 EPS for the quarter, topping the consensus estimate 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 period last year, the company earned $0.46 earnings per share. Sell-side analysts expect that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from First BanCorp.'s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 3.70%. First BanCorp.'s dividend payout ratio (DPR) is currently 39.78%.

Insider Buying and Selling at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the sale, the executive vice president now directly owns 176,222 shares of the company's stock, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

FBP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.40.

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.