Measured Wealth Private Client Group LLC Takes Position in First BanCorp. (NYSE:FBP)

Measured Wealth Private Client Group LLC purchased a new stake in First BanCorp. (NYSE:FBP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 27,251 shares of the bank’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC increased its stake in shares of First BanCorp. by 4.3% in the 3rd quarter. FMR LLC now owns 12,288,893 shares of the bank’s stock valued at $165,408,000 after purchasing an additional 505,003 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in First BanCorp. by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,084,199 shares of the bank’s stock worth $28,053,000 after acquiring an additional 52,384 shares during the last quarter. Schroder Investment Management Group grew its position in First BanCorp. by 3.1% during the 3rd quarter. Schroder Investment Management Group now owns 1,721,109 shares of the bank’s stock worth $23,166,000 after acquiring an additional 51,078 shares during the last quarter. LSV Asset Management grew its position in First BanCorp. by 6.2% during the 3rd quarter. LSV Asset Management now owns 1,143,989 shares of the bank’s stock worth $15,398,000 after acquiring an additional 66,600 shares during the last quarter. Finally, Invesco Ltd. grew its position in First BanCorp. by 32.0% during the 3rd quarter. Invesco Ltd. now owns 1,034,059 shares of the bank’s stock worth $13,918,000 after acquiring an additional 250,577 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Analysts Set New Price Targets

FBP has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company boosted their price objective on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th.

First BanCorp. Trading Up 0.6 %

FBP traded up $0.11 during midday trading on Friday, hitting $18.08. 719,736 shares of the company were exchanged, compared to its average volume of 909,552. The firm has a market capitalization of $3.06 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.48 and a beta of 1.16. First BanCorp. has a 1-year low of $10.18 and a 1-year high of $18.32. The firm’s 50 day moving average price is $17.06 and its 200-day moving average price is $16.11. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.45.

First BanCorp. (NYSE:FBP) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. The firm had revenue of $302.49 million for the quarter, compared to the consensus estimate of $229.19 million. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities analysts forecast that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, May 29th. First BanCorp.’s payout ratio is presently 36.57%.

Insiders Place Their Bets

In other First BanCorp. news, Director Crespo Luz sold 10,000 shares of First BanCorp. stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.47, for a total transaction of $164,700.00. Following the transaction, the director now directly owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nayda Rivera sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.12, for a total value of $256,800.00. Following the transaction, the executive vice president now directly owns 246,930 shares of the company’s stock, valued at approximately $4,227,441.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Crespo Luz sold 10,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.47, for a total value of $164,700.00. Following the completion of the transaction, the director now directly owns 50,055 shares in the company, valued at $824,405.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,000 shares of company stock valued at $2,624,000. 2.50% of the stock is currently owned by company 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.