Sei Investments Co. Has $8.13 Million Position in First BanCorp. (NYSE:FBP)

Sei Investments Co. lifted its stake in First BanCorp. (NYSE:FBP) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 437,437 shares of the bank’s stock after acquiring an additional 20,256 shares during the quarter. Sei Investments Co. owned approximately 0.27% of First BanCorp. worth $8,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Citigroup Inc. increased its position in First BanCorp. by 10.7% in the 3rd quarter. Citigroup Inc. now owns 339,438 shares of the bank’s stock worth $7,186,000 after purchasing an additional 32,825 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in First BanCorp. by 104.0% in the third quarter. BNP Paribas Financial Markets now owns 74,250 shares of the bank’s stock worth $1,572,000 after buying an additional 37,856 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in First BanCorp. during the third quarter valued at approximately $1,471,000. Martingale Asset Management L P lifted its stake in First BanCorp. by 63.3% in the third quarter. Martingale Asset Management L P now owns 89,341 shares of the bank’s stock valued at $1,891,000 after acquiring an additional 34,616 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in First BanCorp. in the third quarter worth approximately $257,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

First BanCorp. Stock Performance

Shares of FBP opened at $19.21 on Monday. The company has a market capitalization of $3.15 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. First BanCorp. has a one year low of $16.25 and a one year high of $22.40. The company’s fifty day moving average price is $19.59 and its 200 day moving average price is $19.89.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data 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 previous year, the firm posted $0.46 earnings per share. As a group, analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.75%. 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 dividend payout ratio is currently 39.78%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FBP. Wells Fargo & Company cut their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.40.

Insider Transactions at First BanCorp.

In related news, EVP Carlos Power sold 10,321 shares of the 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 completion of the sale, the executive vice president now owns 176,222 shares in the company, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

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.