Versor Investments LP Takes $1.12 Million Position in First BanCorp. (NYSE:FBP)

Versor Investments LP purchased a new position in shares of First BanCorp. (NYSE:FBP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,277 shares of the bank's stock, valued at approximately $1,121,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gladius Capital Management LP purchased a new position in First BanCorp. during the 3rd quarter worth $25,000. R Squared Ltd purchased a new position in First BanCorp. during the fourth quarter worth about $28,000. Blue Trust Inc. grew its position in First BanCorp. by 5,054.5% in the 3rd quarter. Blue Trust Inc. now owns 1,701 shares of the bank's stock worth $36,000 after purchasing an additional 1,668 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in First BanCorp. in the 3rd quarter valued at about $66,000. Finally, KBC Group NV lifted its position in shares of First BanCorp. by 61.7% during the 4th quarter. KBC Group NV now owns 8,464 shares of the bank's stock worth $157,000 after buying an additional 3,230 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on FBP. Keefe, Bruyette & Woods increased their price target on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Wells Fargo & Company decreased their target price on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, First BanCorp. currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.40.

Remove Ads

First BanCorp. Stock Performance

NYSE FBP traded up $0.10 on Monday, hitting $19.57. 1,480,737 shares of the stock traded hands, compared to its average volume of 961,720. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The business's fifty day moving average is $19.66 and its two-hundred day moving average is $20.20. First BanCorp. has a 12 month low of $16.24 and a 12 month high of $22.40. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.34 and a beta of 1.14.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share 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 quarter in the prior year, the business posted $0.46 earnings per share. As a group, equities analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.18 dividend. This is an increase from First BanCorp.'s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.72 annualized dividend and a dividend yield of 3.68%. First BanCorp.'s dividend payout ratio (DPR) is presently 39.78%.

Insider Activity

In other news, EVP Carlos Power sold 10,321 shares of First BanCorp. stock in a transaction on 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 directly owns 176,222 shares in the company, valued at approximately $3,656,606.50. The trade was a 5.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company's stock.

About First BanCorp.

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.