Rhumbline Advisers Has $9.02 Million Holdings in First BanCorp. (NYSE:FBP)

Rhumbline Advisers grew its position in First BanCorp. (NYSE:FBP) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,978 shares of the bank’s stock after buying an additional 10,591 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of First BanCorp. worth $9,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of First BanCorp. in the 3rd quarter valued at approximately $25,000. R Squared Ltd acquired a new stake in First BanCorp. during the 4th quarter valued at $28,000. Blue Trust Inc. lifted its holdings in shares of First BanCorp. by 5,054.5% in the third quarter. Blue Trust Inc. now owns 1,701 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,668 shares in the last quarter. CWM LLC boosted its position in shares of First BanCorp. by 222.6% in the third quarter. CWM LLC now owns 2,829 shares of the bank’s stock worth $60,000 after buying an additional 1,952 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of First BanCorp. during the third quarter valued at $66,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

First BanCorp. Price Performance

Shares of NYSE:FBP opened at $19.16 on Tuesday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.34 and a beta of 1.14. First BanCorp. has a 1 year low of $16.24 and a 1 year high of $22.40. 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 business has a fifty day simple moving average of $19.61 and a 200 day simple moving average of $20.21.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings results 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 in the prior year, the firm posted $0.46 earnings per share. As a group, sell-side analysts predict that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a $0.18 dividend. The ex-dividend date is Friday, February 21st. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 3.76%. First BanCorp.’s payout ratio is 39.78%.

Insiders Place Their Bets

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

About First BanCorp.

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.