Deutsche Bank AG Purchases 43,168 Shares of First BanCorp. (NYSE:FBP)

Deutsche Bank AG lifted its position in First BanCorp. (NYSE:FBP) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 715,589 shares of the bank’s stock after buying an additional 43,168 shares during the quarter. Deutsche Bank AG owned about 0.44% of First BanCorp. worth $13,303,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in First BanCorp. in the 4th quarter worth approximately $1,408,000. Cubist Systematic Strategies LLC acquired a new stake in First BanCorp. in the 4th quarter worth approximately $8,264,000. Bridgeway Capital Management LLC lifted its holdings in First BanCorp. by 61.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 134,500 shares of the bank’s stock worth $2,500,000 after purchasing an additional 51,400 shares during the last quarter. Bank of America Corp DE lifted its holdings in First BanCorp. by 3.1% in the 4th quarter. Bank of America Corp DE now owns 1,671,029 shares of the bank’s stock worth $31,064,000 after purchasing an additional 50,091 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in First BanCorp. by 1.4% in the 4th quarter. Algert Global LLC now owns 686,196 shares of the bank’s stock worth $12,756,000 after purchasing an additional 9,447 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

First BanCorp. Stock Up 1.2%

Shares of FBP stock opened at $21.08 on Friday. First BanCorp. has a 12 month low of $16.40 and a 12 month high of $22.40. The firm has a market cap of $3.44 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93. The stock has a 50 day moving average of $18.89 and a 200-day moving average of $19.55. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. The company had revenue of $248.13 million during the quarter, compared to analyst estimates of $243.08 million. During the same period in the previous year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.42%. First BanCorp.’s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FBP shares. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Wells Fargo & Company boosted their target price on First BanCorp. from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.80.

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.