Strs Ohio Purchases 3,300 Shares of First BanCorp. (NYSE:FBP)

Strs Ohio increased its position in First BanCorp. (NYSE:FBP) by 206.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the bank’s stock after purchasing an additional 3,300 shares during the quarter. Strs Ohio’s holdings in First BanCorp. were worth $80,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Xponance Inc. grew its stake in shares of First BanCorp. by 29.7% in the 3rd quarter. Xponance Inc. now owns 18,548 shares of the bank’s stock valued at $250,000 after purchasing an additional 4,247 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First BanCorp. by 15.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,709 shares of the bank’s stock valued at $494,000 after acquiring an additional 4,839 shares during the period. Advisor Partners II LLC raised its stake in First BanCorp. by 4.8% during the third quarter. Advisor Partners II LLC now owns 17,010 shares of the bank’s stock worth $229,000 after acquiring an additional 780 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of First BanCorp. by 7.2% during the third quarter. TD Asset Management Inc now owns 113,100 shares of the bank’s stock valued at $1,522,000 after acquiring an additional 7,600 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of First BanCorp. in the 3rd quarter valued at $829,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

First BanCorp. Stock Up 2.5 %

Shares of NYSE FBP opened at $17.69 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.49 and a beta of 1.16. First BanCorp. has a 12-month low of $10.18 and a 12-month high of $18.04. The firm’s 50-day simple moving average is $17.00 and its 200 day simple moving average is $16.06.

First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.38 by $0.06. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. The business had revenue of $302.49 million for the quarter, compared to analysts’ expectations of $229.19 million. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, research analysts expect that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, May 29th. First BanCorp.’s dividend payout ratio (DPR) is presently 36.57%.

Wall Street Analyst Weigh In

FBP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company boosted their target price on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th.

Insider Activity at First BanCorp.

In other First BanCorp. news, Director Crespo Luz sold 10,000 shares of the business’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 sale, the director now directly owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nayda Rivera sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.12, for a total value of $256,800.00. Following the transaction, the executive vice president now directly owns 246,930 shares in the company, valued at approximately $4,227,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Crespo Luz sold 10,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.47, for a total value of $164,700.00. Following the completion of the sale, the director now owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. 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 90 days. Insiders own 2.50% of the company’s stock.

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.