First BanCorp. (NYSE:FBP) EVP Sells $214,160.75 in Stock

First BanCorp. (NYSE:FBP) EVP Carlos Power sold 10,321 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the sale, the executive vice president now owns 176,222 shares of the company’s stock, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Carlos Power also recently made the following trade(s):

• On Wednesday, February 5th, Carlos Power sold 45,797 shares of First BanCorp. stock. The stock was sold at an average price of $20.77, for a total transaction of $951,203.69.

First BanCorp. Stock Down 1.2 %

FBP opened at $20.83 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. The business’s fifty day moving average is $19.63 and its two-hundred day moving average is $20.26. First BanCorp. has a one year low of $16.12 and a one year high of $22.40. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.41 and a beta of 1.14.

First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping 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 in the previous year, the business earned $0.46 earnings per share. Analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s payout ratio is currently 39.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FBP shares. Piper Sandler decreased their target price on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Wells Fargo & Company dropped their target price on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Hovde Group reduced their price objective on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FBP. Blue Trust Inc. raised its position in shares of First BanCorp. by 31.9% in the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank’s stock worth $42,000 after buying an additional 542 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of First BanCorp. by 17.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock valued at $68,000 after purchasing an additional 544 shares during the period. Gladius Capital Management LP acquired a new position in First BanCorp. in the 3rd quarter worth $25,000. Pathstone Holdings LLC boosted its holdings in First BanCorp. by 0.9% in the third quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank’s stock valued at $3,393,000 after purchasing an additional 1,435 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of First BanCorp. during the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

About First BanCorp.

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.