First BanCorp. (NYSE:FBP) Reaches New 12-Month High at $18.62

First BanCorp. (NYSE:FBP) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.62 and last traded at $18.61, with a volume of 762714 shares changing hands. The stock had previously closed at $18.42.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FBP shares. Keefe, Bruyette & Woods increased their price objective on shares of First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Wells Fargo & Company increased 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.

First BanCorp. Stock Down 1.8 %

The company has a market capitalization of $3.04 billion, a PE ratio of 10.45, a P/E/G ratio of 1.53 and a beta of 1.12. The business’s 50 day simple moving average is $17.76 and its 200 day simple moving average is $17.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.76.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $229.19 million. During the same period last year, the business earned $0.39 earnings per share. As a group, analysts anticipate that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 30th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, May 30th. First BanCorp.’s dividend payout ratio (DPR) is currently 36.57%.

Insider Activity at First BanCorp.

In related news, CFO Gonzalez Orlando Berges sold 75,000 shares of First BanCorp. stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $17.92, for a total value of $1,344,000.00. Following the completion of the transaction, the chief financial officer now owns 277,020 shares in the company, valued at $4,964,198.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Carlos Power sold 5,277 shares of First BanCorp. stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total value of $95,038.77. Following the completion of the transaction, the executive vice president now owns 255,236 shares in the company, valued at $4,596,800.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gonzalez Orlando Berges sold 75,000 shares of First BanCorp. stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $17.92, for a total transaction of $1,344,000.00. Following the completion of the transaction, the chief financial officer now owns 277,020 shares of the company’s stock, valued at approximately $4,964,198.40. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in First BanCorp. by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 56,423 shares of the bank’s stock worth $928,000 after acquiring an additional 661 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of First BanCorp. by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 176,964 shares of the bank’s stock worth $3,101,000 after buying an additional 815 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of First BanCorp. by 8.1% during the 4th quarter. Mackenzie Financial Corp now owns 12,511 shares of the bank’s stock worth $206,000 after buying an additional 942 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of First BanCorp. by 4.3% during the 1st quarter. ProShare Advisors LLC now owns 33,708 shares of the bank’s stock worth $591,000 after buying an additional 1,396 shares during the last quarter. Finally, Prospector Partners LLC lifted its position in shares of First BanCorp. by 0.3% during the 4th quarter. Prospector Partners LLC now owns 477,975 shares of the bank’s stock worth $7,863,000 after buying an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 97.91% 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.