Victory Capital Management Inc. Lowers Stock Holdings in First BanCorp. (NYSE:FBP)

Victory Capital Management Inc. trimmed its holdings in shares of First BanCorp. (NYSE:FBP – Get Rating) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,532,251 shares of the bank’s stock after selling 10,720 shares during the period. Victory Capital Management Inc.’s holdings in First BanCorp. were worth $20,962,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ellevest Inc. raised its holdings in First BanCorp. by 91.4% in the 2nd quarter. Ellevest Inc. now owns 3,320 shares of the bank’s stock worth $43,000 after acquiring an additional 1,585 shares during the last quarter. Strs Ohio raised its holdings in First BanCorp. by 177.3% in the 2nd quarter. Strs Ohio now owns 6,100 shares of the bank’s stock worth $78,000 after acquiring an additional 3,900 shares during the last quarter. Lazard Asset Management LLC raised its holdings in First BanCorp. by 121.0% in the 2nd quarter. Lazard Asset Management LLC now owns 8,785 shares of the bank’s stock worth $113,000 after acquiring an additional 4,809 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in First BanCorp. by 8.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,410 shares of the bank’s stock worth $121,000 after acquiring an additional 730 shares during the last quarter. Finally, Shay Capital LLC purchased a new position in First BanCorp. in the 1st quarter worth approximately $131,000. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Nayda Rivera sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $15.40, for a total transaction of $77,000.00. Following the completion of the sale, the executive vice president now owns 251,948 shares of the company’s stock, valued at approximately $3,879,999.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company’s stock.

First BanCorp. Trading Down 2.4 %

NYSE:FBP opened at $13.21 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.15. First BanCorp. has a 12 month low of $11.94 and a 12 month high of $16.40. The company has a market cap of $2.44 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.20. The company has a 50 day simple moving average of $13.66 and a two-hundred day simple moving average of $14.40.

First BanCorp. (NYSE:FBP – Get Rating) last posted its earnings results on Tuesday, October 25th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. First BanCorp. had a net margin of 32.11% and a return on equity of 18.29%. The business had revenue of $239.60 million during the quarter, compared to the consensus estimate of $237.86 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Research analysts forecast that First BanCorp. will post 1.6 earnings per share for the current year.

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Friday, November 25th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Wednesday, November 23rd. First BanCorp.’s payout ratio is 31.17%.

Wall Street Analysts Forecast Growth

FBP has been the subject of a number of research analyst reports. Wells Fargo & Company downgraded shares of First BanCorp. from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 15th. StockNews.com initiated coverage on shares of First BanCorp. in a research report on Wednesday, October 12th. They issued a “hold” rating for the company.

First BanCorp. Profile

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First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. 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.