First BanCorp. (NYSE:FBP) Shares Sold by Olympiad Research LP

Olympiad Research LP lowered its position in shares of First BanCorp. (NYSE:FBP) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,318 shares of the bank’s stock after selling 2,958 shares during the period. Olympiad Research LP’s holdings in First BanCorp. were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FBP. Gladius Capital Management LP acquired a new stake in shares of First BanCorp. during the third quarter worth about $25,000. R Squared Ltd acquired a new stake in shares of First BanCorp. during the fourth quarter worth about $28,000. Blue Trust Inc. increased its position in shares of First BanCorp. by 5,054.5% during the third quarter. Blue Trust Inc. now owns 1,701 shares of the bank’s stock worth $36,000 after purchasing an additional 1,668 shares in the last quarter. CWM LLC increased its position in shares of First BanCorp. by 222.6% during the third quarter. CWM LLC now owns 2,829 shares of the bank’s stock worth $60,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in First BanCorp. in the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Ratings Changes

FBP has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their price target on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

First BanCorp. Price Performance

Shares of FBP opened at $19.37 on Monday. First BanCorp. has a twelve month low of $16.24 and a twelve month high of $22.40. The stock’s 50 day moving average is $19.63 and its two-hundred day moving average is $20.22. The firm has a market capitalization of $3.17 billion, a PE ratio of 10.70, a P/E/G ratio of 1.34 and a beta of 1.14. 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 data 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 return on equity of 18.89% and a net margin of 24.37%. During the same period last year, the firm posted $0.46 EPS. Research analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s payout ratio is currently 39.78%.

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 that occurred on Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the sale, the executive vice president now owns 176,222 shares of the company’s stock, valued at approximately $3,656,606.50. The trade was a 5.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

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.