Headlands Technologies LLC Takes $113,000 Position in First BanCorp. (NYSE:FBP)

Headlands Technologies LLC acquired a new position in shares of First BanCorp. (NYSE:FBP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,859 shares of the bank’s stock, valued at approximately $113,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio increased its holdings in shares of First BanCorp. by 206.3% during the fourth quarter. Strs Ohio now owns 4,900 shares of the bank’s stock worth $80,000 after buying an additional 3,300 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in First BanCorp. during the 3rd quarter worth $138,000. AXQ Capital LP bought a new position in First BanCorp. in the third quarter valued at about $186,000. Versor Investments LP acquired a new stake in shares of First BanCorp. during the third quarter valued at about $197,000. Finally, Mackenzie Financial Corp grew its holdings in shares of First BanCorp. by 8.1% during the fourth quarter. Mackenzie Financial Corp now owns 12,511 shares of the bank’s stock worth $206,000 after purchasing an additional 942 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Insider Activity at First BanCorp.

In other First BanCorp. news, CEO Aurelio Aleman sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,126,325 shares in the company, valued at approximately $19,339,000.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other First BanCorp. news, CEO Aurelio Aleman sold 50,000 shares of First BanCorp. stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $858,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,126,325 shares in the company, valued at $19,339,000.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nayda Rivera sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.12, for a total value of $256,800.00. Following the completion of the transaction, the executive vice president now directly owns 246,930 shares in the company, valued at $4,227,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock worth $1,280,000 over the last quarter. Company insiders own 2.50% of the company’s stock.

First BanCorp. Trading Up 1.3 %

NYSE FBP opened at $17.47 on Tuesday. The firm has a market capitalization of $2.96 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The business’s 50-day moving average price is $16.96 and its two-hundred day moving average price is $16.03. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. First BanCorp. has a 12 month low of $10.18 and a 12 month high of $17.74.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The company had revenue of $302.49 million for the quarter, compared to analyst estimates of $229.19 million. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. During the same period in the previous year, the firm earned $0.39 earnings per share. On average, analysts expect that First BanCorp. will post 1.69 EPS for the current year.

First BanCorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 30th will be issued a $0.16 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 3.66%. First BanCorp.’s payout ratio is 36.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FBP. Wells Fargo & Company raised their price objective on shares of First BanCorp. from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, April 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.