Ameritas Investment Partners Inc. Sells 966 Shares of First BanCorp. (NYSE:FBP)

Ameritas Investment Partners Inc. lessened its holdings in First BanCorp. (NYSE:FBP) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,665 shares of the bank’s stock after selling 966 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in First BanCorp. were worth $292,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Private Wealth Management Group LLC bought a new position in First BanCorp. in the fourth quarter valued at approximately $26,000. Neo Ivy Capital Management acquired a new position in shares of First BanCorp. in the 4th quarter valued at $36,000. Strs Ohio boosted its position in shares of First BanCorp. by 206.3% in the 4th quarter. Strs Ohio now owns 4,900 shares of the bank’s stock worth $80,000 after purchasing an additional 3,300 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in shares of First BanCorp. during the first quarter worth $110,000. Finally, Headlands Technologies LLC bought a new stake in First BanCorp. in the fourth quarter valued at about $113,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Wells Fargo & Company lifted their price objective on shares of First BanCorp. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Raymond James assumed coverage on shares of First BanCorp. in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Hovde Group lifted their price target on shares of First BanCorp. from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, First BanCorp. currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

First BanCorp. Price Performance

Shares of FBP opened at $21.36 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a market capitalization of $3.55 billion, a PE ratio of 12.21, a P/E/G ratio of 1.79 and a beta of 1.12. The stock has a 50 day simple moving average of $18.29 and a 200 day simple moving average of $17.39. First BanCorp. has a 52-week low of $12.72 and a 52-week high of $22.02.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $304.28 million for the quarter, compared to analyst estimates of $230.26 million. First BanCorp. had a net margin of 25.91% and a return on equity of 22.11%. During the same period last year, the business posted $0.37 earnings per share. Sell-side analysts predict that First BanCorp. will post 1.75 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.00%. First BanCorp.’s dividend payout ratio (DPR) is 36.57%.

Insider Transactions at First BanCorp.

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

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.