First BanCorp. (NYSE:FBP) Shares Sold by Monument Capital Management

Monument Capital Management lowered its stake in First BanCorp. (NYSE:FBP) by 22.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,019 shares of the bank’s stock after selling 3,727 shares during the quarter. Monument Capital Management’s holdings in First BanCorp. were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in First BanCorp. by 2.2% during the 4th quarter. Rhumbline Advisers now owns 484,978 shares of the bank’s stock worth $9,016,000 after purchasing an additional 10,591 shares during the last quarter. Blue Trust Inc. boosted its stake in First BanCorp. by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank’s stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Vicus Capital acquired a new stake in First BanCorp. during the 4th quarter worth $201,000. Wilmington Savings Fund Society FSB boosted its stake in First BanCorp. by 17.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock worth $68,000 after purchasing an additional 544 shares during the last quarter. Finally, Vest Financial LLC boosted its stake in First BanCorp. by 83.4% during the 4th quarter. Vest Financial LLC now owns 132,280 shares of the bank’s stock worth $2,459,000 after purchasing an additional 60,155 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

First BanCorp. Price Performance

First BanCorp. stock opened at $20.39 on Tuesday. First BanCorp. has a 12-month low of $16.24 and a 12-month high of $22.40. The stock has a market cap of $3.34 billion, a P/E ratio of 11.26, a PEG ratio of 1.41 and a beta of 1.14. The company has a 50-day moving average price of $19.62 and a 200 day moving average price of $20.21. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend 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 dividend yield of 3.53%. First BanCorp.’s dividend payout ratio (DPR) is currently 35.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on FBP shares. Piper Sandler lowered their target price on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Hovde Group dropped their price objective on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Wells Fargo & Company cut their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, First BanCorp. presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of First BanCorp. stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

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.