First BanCorp. (NYSE:FBP) Shares Acquired by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP increased its holdings in shares of First BanCorp. (NYSE:FBP) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,629 shares of the bank’s stock after acquiring an additional 2,976 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in First BanCorp. were worth $514,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FBP. Picton Mahoney Asset Management grew its holdings in shares of First BanCorp. by 48.2% during the fourth quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank’s stock valued at $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. grew its stake in First BanCorp. by 31.9% during 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 last quarter. Wilmington Savings Fund Society FSB increased its position in First BanCorp. by 17.3% in the fourth 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 period. Pathstone Holdings LLC lifted its stake 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 buying an additional 1,435 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of First BanCorp. during the fourth quarter valued at $28,000. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

FBP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Wells Fargo & Company cut their price target 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First BanCorp. presently has an average rating of “Moderate Buy” and an average price target of $22.40.

Insider Activity

In other news, EVP Carlos Power sold 10,321 shares of First BanCorp. stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $20.75, for a total value of $214,160.75. Following the transaction, the executive vice president now owns 176,222 shares of the company’s stock, valued at $3,656,606.50. The trade was a 5.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.

First BanCorp. Stock Performance

Shares of FBP opened at $19.07 on Tuesday. The firm has a market capitalization of $3.12 billion, a PE ratio of 10.53, a P/E/G ratio of 1.34 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $19.59 and a 200 day moving average price of $19.91. First BanCorp. has a 52-week low of $16.25 and a 52-week high of $22.40.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, sell-side analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.18 per share. The ex-dividend date was Friday, February 21st. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 3.78%. First BanCorp.’s dividend payout ratio (DPR) is 39.78%.

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.