First BanCorp. (NYSE:FBP) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in First BanCorp. (NYSE:FBP) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,724,074 shares of the bank’s stock after purchasing an additional 78,129 shares during the quarter. American Century Companies Inc.’s holdings in First BanCorp. were worth $125,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in shares of First BanCorp. by 48.2% during the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank’s stock valued at $29,000 after buying an additional 514 shares during the period. Blue Trust Inc. grew its position in First BanCorp. by 31.9% in the fourth quarter. Blue Trust Inc. now owns 2,243 shares of the bank’s stock valued at $42,000 after acquiring an additional 542 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of First BanCorp. by 17.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock valued at $68,000 after purchasing an additional 544 shares during the period. Pathstone Holdings LLC lifted its position in shares of First BanCorp. by 0.9% during the third quarter. Pathstone Holdings LLC now owns 160,254 shares of the bank’s stock worth $3,393,000 after purchasing an additional 1,435 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of First BanCorp. in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at First BanCorp.

In other news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction dated 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 directly owns 176,222 shares in the company, valued at approximately $3,656,606.50. This trade represents a 5.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

First BanCorp. Trading Up 2.5 %

FBP opened at $18.82 on Monday. First BanCorp. has a 12-month low of $16.25 and a 12-month high of $22.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $3.08 billion, a PE ratio of 10.40, a P/E/G ratio of 1.34 and a beta of 1.12. The firm’s fifty day moving average price is $19.58 and its 200 day moving average price is $19.92.

First BanCorp. (NYSE:FBP) last issued its earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $0.46 EPS. As a group, research analysts expect that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Friday, February 21st. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio (DPR) is currently 39.78%.

First BanCorp. 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.