Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in First BanCorp. (NYSE:FBP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First BanCorp. (NYSE:FBP - Free Report) by 52.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,797 shares of the bank's stock after buying an additional 21,213 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in First BanCorp. were worth $1,149,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of First BanCorp. in the fourth quarter worth about $28,000. Blue Trust Inc. grew its stake in shares of First BanCorp. by 31.9% in the fourth quarter. Blue Trust Inc. now owns 2,243 shares of the bank's stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of First BanCorp. in the third quarter worth about $66,000. Smartleaf Asset Management LLC grew its stake in shares of First BanCorp. by 394.8% in 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 during the last quarter. Finally, KBC Group NV grew its stake in shares of First BanCorp. by 61.7% in the fourth quarter. KBC Group NV now owns 8,464 shares of the bank's stock worth $157,000 after purchasing an additional 3,230 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company's stock.

First BanCorp. Stock Up 2.5 %

First BanCorp. stock traded up $0.45 during trading hours on Friday, hitting $18.82. 8,042,827 shares of the stock traded hands, compared to its average volume of 959,770. The firm's 50-day moving average price is $19.58 and its two-hundred day moving average price is $19.93. 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 $3.08 billion, a PE ratio of 10.40, a PEG ratio of 1.34 and a beta of 1.12. First BanCorp. has a one year low of $16.25 and a one year high of $22.40.

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First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, beating 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 previous year, the business posted $0.46 EPS. On average, research analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.83%. This is a boost from First BanCorp.'s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 21st. First BanCorp.'s payout ratio is presently 39.78%.

Insider Buying and Selling at First BanCorp.

In other news, EVP Carlos Power sold 45,797 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $20.77, for a total value of $951,203.69. Following the sale, the executive vice president now directly owns 186,543 shares of the company's stock, valued at $3,874,498.11. The trade was a 19.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FBP shares. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company cut their target price on First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to 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.