First BanCorp. (NYSE:FBP) EVP Nayda Rivera Sells 10,000 Shares of Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the transaction, the executive vice president directly owned 230,398 shares in the company, valued at approximately $6,494,919.62. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Nayda Rivera also recently made the following trade(s):

• On Monday, August 17th, Nayda Rivera sold 10,000 shares of First BanCorp. stock. The stock was sold at an average price of $29.59, for a total transaction of $295,900.00.

First BanCorp. Trading Up 1.1%

Shares of NYSE:FBP opened at $28.02 on Friday. The company has a 50 day moving average of $27.85 and a 200-day moving average of $24.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.28 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.49 and a beta of 0.81. First BanCorp. has a twelve month low of $19.16 and a twelve month high of $29.88.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $264.86 million for the quarter, compared to analyst estimates of $265.31 million. First BanCorp. had a net margin of 29.24% and a return on equity of 18.03%. As a group, analysts anticipate that First BanCorp. will post 2.4 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, September 11th. Stockholders of record on Thursday, August 27th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.80 annualized dividend and a dividend yield of 2.9%. First BanCorp.’s dividend payout ratio (DPR) is 33.76%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FBP shares. Weiss Ratings raised First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 1st. Wells Fargo & Company boosted their price target on shares of First BanCorp. from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a report on Thursday, July 23rd. Benchmark raised their price objective on shares of First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Zacks Research raised shares of First BanCorp. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $29.38.

Hedge Funds Weigh In On First BanCorp.

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of First BanCorp. by 64.9% during the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank’s stock worth $30,000 after purchasing an additional 560 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of First BanCorp. by 151.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,129 shares during the period. Jones Financial Companies Lllp increased its stake in First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock worth $57,000 after purchasing an additional 2,262 shares in the last quarter. Nykredit A S purchased a new position in First BanCorp. in the 2nd quarter worth about $78,000. Finally, State of Wyoming acquired a new stake in First BanCorp. during the 4th quarter worth about $64,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About First BanCorp.

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.