Thrivent Financial for Lutherans Raises Stake in First BanCorp. (NYSE:FBP)

Thrivent Financial for Lutherans grew its stake in First BanCorp. (NYSE:FBP) by 124.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 322,119 shares of the bank’s stock after acquiring an additional 178,660 shares during the quarter. Thrivent Financial for Lutherans owned about 0.20% of First BanCorp. worth $5,988,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its position in First BanCorp. by 48.2% during the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank’s stock worth $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. grew its stake 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 valued at $42,000 after buying an additional 542 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in shares of First BanCorp. by 17.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock worth $68,000 after buying an additional 544 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of First BanCorp. by 0.9% during the 3rd quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank’s stock valued at $3,393,000 after buying an additional 1,435 shares during the period. Finally, R Squared Ltd acquired a new position in First BanCorp. in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Stock Up 2.5 %

First BanCorp. stock opened at $18.82 on Monday. The company has a market capitalization of $3.08 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.80 and a current ratio of 0.81. First BanCorp. has a fifty-two week low of $16.25 and a fifty-two week high of $22.40. The firm has a 50 day moving average price of $19.58 and a 200 day moving average price of $19.92.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, beating 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 firm earned $0.46 earnings per share. Research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.18 per share. The ex-dividend date was Friday, February 21st. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 3.83%. First BanCorp.’s dividend payout ratio is 39.78%.

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.75, for a total transaction of $214,160.75. Following the sale, the executive vice president now owns 176,222 shares of the company’s stock, valued at approximately $3,656,606.50. This represents a 5.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company cut their price objective on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, First BanCorp. has an average rating of “Moderate Buy” and a consensus target price of $22.40.

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.