Blue Trust Inc. Has $42,000 Stock Holdings in First BanCorp. (NYSE:FBP)

Blue Trust Inc. lifted its position in First BanCorp. (NYSE:FBP) by 31.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,243 shares of the bank’s stock after purchasing an additional 542 shares during the quarter. Blue Trust Inc.’s holdings in First BanCorp. were worth $42,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Gladius Capital Management LP bought a new stake in First BanCorp. during the third quarter worth about $25,000. R Squared Ltd acquired a new position in shares of First BanCorp. in the 4th quarter worth approximately $28,000. Wilmington Savings Fund Society FSB acquired a new position in shares of First BanCorp. in the 3rd quarter worth approximately $66,000. KBC Group NV grew its position in 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 acquiring an additional 3,230 shares during the last quarter. Finally, Vicus Capital acquired a new stake in First BanCorp. during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the firm’s 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 transaction, the executive vice president now directly owns 176,222 shares in the company, valued at $3,656,606.50. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by corporate insiders.

First BanCorp. Stock Up 0.1 %

NYSE:FBP opened at $19.21 on Thursday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.14. 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 stock’s fifty day moving average price is $19.61 and its two-hundred day moving average price is $20.21. First BanCorp. has a 52-week low of $16.24 and a 52-week high of $22.40.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) 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 last year, the firm earned $0.46 EPS. On average, analysts anticipate that First BanCorp. will post 1.85 EPS for the current 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 represents a $0.72 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, February 21st. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio (DPR) is 39.78%.

Analyst Ratings Changes

A number of research firms have commented on FBP. Wells Fargo & Company reduced their price objective 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. 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

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.