First BanCorp. (NYSE:FBP) Stock Position Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in First BanCorp. (NYSE:FBP) by 69.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,890 shares of the bank’s stock after acquiring an additional 8,170 shares during the period. Nisa Investment Advisors LLC’s holdings in First BanCorp. were worth $327,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Citigroup Inc. grew its position in shares of First BanCorp. by 14.5% during the first quarter. Citigroup Inc. now owns 198,317 shares of the bank’s stock worth $2,603,000 after acquiring an additional 25,060 shares during the last quarter. Natixis Advisors L.P. boosted its stake in First BanCorp. by 4.3% during the 1st quarter. Natixis Advisors L.P. now owns 31,779 shares of the bank’s stock valued at $417,000 after purchasing an additional 1,320 shares during the period. Bank of Montreal Can grew its position in First BanCorp. by 7.4% in the 1st quarter. Bank of Montreal Can now owns 67,649 shares of the bank’s stock worth $893,000 after purchasing an additional 4,683 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of First BanCorp. by 42.3% in the first quarter. MetLife Investment Management LLC now owns 99,028 shares of the bank’s stock valued at $1,299,000 after purchasing an additional 29,444 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of First BanCorp. by 11.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 173,994 shares of the bank’s stock valued at $2,283,000 after buying an additional 18,567 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the sale, the director now directly owns 50,055 shares in the company, valued at $824,405.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other First BanCorp. news, EVP Nayda Rivera sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.12, for a total transaction of $256,800.00. Following the sale, the executive vice president now owns 246,930 shares in the company, valued at approximately $4,227,441.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the transaction, the director now owns 50,055 shares of the company’s stock, valued at $824,405.85. The disclosure for this sale can be found here. Insiders have sold 132,600 shares of company stock worth $2,278,784 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

First BanCorp. Price Performance

Shares of NYSE:FBP opened at $16.44 on Friday. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 1.47 and a beta of 1.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.76 and a quick ratio of 0.76. First BanCorp. has a 12 month low of $10.18 and a 12 month high of $17.70. The stock’s 50 day moving average price is $16.88 and its 200 day moving average price is $15.81.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. First BanCorp. had a return on equity of 21.62% and a net margin of 26.19%. The company had revenue of $299.09 million for the quarter, compared to the consensus estimate of $227.75 million. During the same quarter in the previous year, the business earned $0.40 EPS. Equities research analysts anticipate that First BanCorp. will post 1.66 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.16 per share. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.64 annualized dividend and a dividend yield of 3.89%. First BanCorp.’s dividend payout ratio (DPR) is 37.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods raised their price target on First BanCorp. from $18.50 to $19.00 and gave the company an “outperform” rating in a report on Thursday, January 25th.

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.