Trexquant Investment LP Boosts Holdings in First BanCorp. (NYSE:FBP)

Trexquant Investment LP grew its stake in shares of First BanCorp. (NYSE:FBP - Free Report) by 159.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 377,327 shares of the bank's stock after acquiring an additional 232,117 shares during the period. Trexquant Investment LP owned about 0.23% of First BanCorp. worth $7,015,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in First BanCorp. by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank's stock valued at $17,216,000 after purchasing an additional 37,432 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in First BanCorp. in the fourth quarter worth about $4,792,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First BanCorp. by 52.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank's stock worth $1,149,000 after acquiring an additional 21,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in First BanCorp. during the 4th quarter valued at about $420,000. Finally, Sei Investments Co. raised its holdings in shares of First BanCorp. by 4.9% in the 4th quarter. Sei Investments Co. now owns 437,437 shares of the bank's stock valued at $8,132,000 after purchasing an additional 20,256 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Up 8.4 %

Shares of FBP stock traded up $1.42 during trading hours on Wednesday, reaching $18.42. 2,322,509 shares of the company's stock were exchanged, compared to its average volume of 1,055,722. 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 cap of $3.02 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.34 and a beta of 0.90. First BanCorp. has a fifty-two week low of $16.25 and a fifty-two week high of $22.40. The stock's 50 day moving average is $19.10 and its 200-day moving average is $19.72.

First BanCorp. (NYSE:FBP - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping 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 last year, the business earned $0.46 EPS. Analysts predict that First BanCorp. will post 1.85 earnings per share for the current fiscal 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 issued a $0.18 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from First BanCorp.'s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.91%. First BanCorp.'s dividend payout ratio is currently 39.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of First BanCorp. from an "equal weight" rating to an "overweight" rating and set a $20.00 price objective on the stock in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.40.

Insider Transactions at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the company's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the completion of the transaction, the executive vice president now owns 176,222 shares of the company's stock, valued at approximately $3,656,606.50. This represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.50% of the company's stock.

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.