First BanCorp. (NYSE:FBP) Stock Holdings Trimmed by Kennedy Capital Management LLC

Kennedy Capital Management LLC decreased its holdings in First BanCorp. (NYSE:FBP) by 57.0% in the 4th quarter, HoldingsChannel reports. The firm owned 105,512 shares of the bank’s stock after selling 139,997 shares during the quarter. Kennedy Capital Management LLC’s holdings in First BanCorp. were worth $1,961,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in First BanCorp. in the fourth quarter worth approximately $35,275,000. Intech Investment Management LLC raised its stake in shares of First BanCorp. by 267.2% in the 4th quarter. Intech Investment Management LLC now owns 705,075 shares of the bank’s stock worth $13,107,000 after buying an additional 513,063 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of First BanCorp. in the fourth quarter valued at $4,792,000. Trexquant Investment LP boosted its stake in First BanCorp. by 159.8% during the fourth quarter. Trexquant Investment LP now owns 377,327 shares of the bank’s stock valued at $7,015,000 after buying an additional 232,117 shares in the last quarter. Finally, Barclays PLC grew its holdings in First BanCorp. by 106.1% during the third quarter. Barclays PLC now owns 367,445 shares of the bank’s stock worth $7,779,000 after acquiring an additional 189,148 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Carlos Power sold 45,797 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $20.77, for a total value of $951,203.69. Following the completion of the sale, the executive vice president now directly owns 186,543 shares of the company’s stock, valued at $3,874,498.11. This represents a 19.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is currently owned by corporate insiders.

First BanCorp. Price Performance

NYSE FBP opened at $17.87 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. First BanCorp. has a 1 year low of $16.25 and a 1 year high of $22.40. The company has a market cap of $2.93 billion, a PE ratio of 9.87, a PEG ratio of 1.34 and a beta of 0.90. The stock’s 50-day moving average price is $18.93 and its two-hundred day moving average price is $19.65.

First BanCorp. (NYSE:FBP) last released its quarterly 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 quarter last year, the company earned $0.46 EPS. On average, analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.03%. The ex-dividend date was Friday, February 21st. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio (DPR) is 39.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on FBP shares. Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Wells Fargo & Company upgraded shares of First BanCorp. from an “equal weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, First BanCorp. presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

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.