First BanCorp. (NYSE:FBP) Shares Sold by X Square Capital LLC

X Square Capital LLC trimmed its position in First BanCorp. (NYSE:FBP - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 249,504 shares of the bank's stock after selling 64,666 shares during the quarter. First BanCorp. comprises 1.9% of X Square Capital LLC's holdings, making the stock its 9th largest position. X Square Capital LLC owned approximately 0.15% of First BanCorp. worth $4,638,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of First BanCorp. during the 4th quarter valued at approximately $28,000. Picton Mahoney Asset Management boosted its stake 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 worth $29,000 after acquiring an additional 514 shares in the last quarter. Blue Trust Inc. increased its stake in shares of First BanCorp. by 31.9% in the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock valued at $42,000 after purchasing an additional 542 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in First BanCorp. in the 3rd quarter worth about $66,000. Finally, Smartleaf Asset Management LLC boosted its position in First BanCorp. by 394.8% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

First BanCorp. Price Performance

FBP stock traded up $0.00 during mid-day trading on Tuesday, reaching $19.17. The company's stock had a trading volume of 194,947 shares, compared to its average volume of 1,027,363. 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's 50 day moving average is $19.58 and its two-hundred day moving average is $19.88. First BanCorp. has a fifty-two week low of $16.25 and a fifty-two week high of $22.40. The stock has a market cap of $3.14 billion, a PE ratio of 10.63, a P/E/G ratio of 1.34 and a beta of 1.12.

First BanCorp. (NYSE:FBP - Get Free Report) last released its quarterly earnings data 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 company earned $0.46 EPS. Equities research analysts expect that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.76%. This is a positive change 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 is presently 39.78%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company reduced their target price on 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 assigned a buy rating to the stock. According to data from MarketBeat, First BanCorp. presently has a consensus rating of "Moderate Buy" and an average price target of $22.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.75, for a total value of $214,160.75. Following the transaction, the executive vice president now owns 176,222 shares of the company's stock, valued at $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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.