SG Americas Securities LLC Has $557,000 Stake in First BanCorp. (NYSE:FBP)

SG Americas Securities LLC lowered its stake in First BanCorp. (NYSE:FBP) by 56.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,330 shares of the bank’s stock after selling 34,265 shares during the period. SG Americas Securities LLC’s holdings in First BanCorp. were worth $557,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. American Trust boosted its holdings in shares of First BanCorp. by 15.1% during the 2nd quarter. American Trust now owns 15,586 shares of the bank’s stock worth $285,000 after buying an additional 2,046 shares during the period. Algert Global LLC lifted its position in First BanCorp. by 4.1% during the 2nd quarter. Algert Global LLC now owns 657,459 shares of the bank’s stock worth $12,025,000 after acquiring an additional 25,958 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in First BanCorp. by 44.5% during the second quarter. Mackenzie Financial Corp now owns 18,083 shares of the bank’s stock valued at $331,000 after acquiring an additional 5,572 shares during the period. AQR Capital Management LLC grew its position in shares of First BanCorp. by 33.2% in the second quarter. AQR Capital Management LLC now owns 71,930 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 17,939 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of First BanCorp. by 9.8% in the second quarter. Xponance Inc. now owns 23,361 shares of the bank’s stock worth $427,000 after purchasing an additional 2,086 shares during the period. Institutional investors own 97.91% of the company’s stock.

First BanCorp. Stock Performance

Shares of NYSE FBP opened at $21.39 on Wednesday. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.72 and a beta of 1.10. First BanCorp. has a one year low of $12.72 and a one year high of $22.12. The business has a fifty day simple moving average of $20.55 and a 200 day simple moving average of $19.05. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $304.28 million during the quarter, compared to analysts’ expectations of $230.26 million. First BanCorp. had a net margin of 25.91% and a return on equity of 21.86%. During the same quarter in the prior year, the company posted $0.37 EPS. Sell-side analysts expect that First BanCorp. will post 1.76 EPS for the current year.

First BanCorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were paid a $0.16 dividend. The ex-dividend date was Thursday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. First BanCorp.’s dividend payout ratio is currently 36.57%.

Insider Transactions at First BanCorp.

In related news, EVP Michael Mcdonald sold 1,944 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $21.51, for a total value of $41,815.44. Following the sale, the executive vice president now owns 87,476 shares of the company’s stock, valued at $1,881,608.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Donald Kafka sold 50,000 shares of First BanCorp. stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.81, for a total value of $1,090,500.00. Following the completion of the transaction, the chief operating officer now owns 174,589 shares in the company, valued at approximately $3,807,786.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Mcdonald sold 1,944 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $21.51, for a total value of $41,815.44. Following the completion of the transaction, the executive vice president now directly owns 87,476 shares in the company, valued at $1,881,608.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,452 shares of company stock valued at $1,790,066. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

FBP has been the topic of a number of research analyst reports. Piper Sandler began coverage on First BanCorp. in a report on Monday, August 26th. They issued a “neutral” rating and a $22.00 target price on the stock. Raymond James assumed coverage on shares of First BanCorp. in a research report on Tuesday, July 9th. They set an “outperform” rating and a $21.00 target price on the stock. Hovde Group upped their target price on shares of First BanCorp. from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of First BanCorp. from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. 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, First BanCorp. presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

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.