First BanCorp. (NYSE:FBP) Shares Sold by RMB Capital Management LLC

RMB Capital Management LLC decreased its stake in shares of First BanCorp. (NYSE:FBPGet Rating) by 52.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,769 shares of the bank’s stock after selling 76,183 shares during the period. RMB Capital Management LLC’s holdings in First BanCorp. were worth $889,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Shell Asset Management Co. increased its holdings in shares of First BanCorp. by 2.2% during the 4th quarter. Shell Asset Management Co. now owns 32,713 shares of the bank’s stock worth $451,000 after buying an additional 715 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in First BanCorp. by 2.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,955 shares of the bank’s stock worth $523,000 after acquiring an additional 881 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in First BanCorp. by 3.5% during the first quarter. Mutual of America Capital Management LLC now owns 29,082 shares of the bank’s stock worth $382,000 after acquiring an additional 986 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of First BanCorp. by 3.6% in the 4th quarter. Natixis Advisors L.P. now owns 30,459 shares of the bank’s stock worth $420,000 after purchasing an additional 1,066 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of First BanCorp. by 2.8% in the 4th quarter. HighTower Advisors LLC now owns 41,471 shares of the bank’s stock valued at $570,000 after purchasing an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 92.81% of the company’s stock.

Analyst Ratings Changes

FBP has been the subject of a number of research analyst reports. StockNews.com downgraded shares of First BanCorp. from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd. Piper Sandler cut their target price on shares of First BanCorp. to $16.00 in a research note on Monday, July 4th.

First BanCorp. Price Performance

FBP stock opened at $14.93 on Friday. The firm has a market cap of $2.95 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 0.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.70. First BanCorp. has a 1 year low of $11.66 and a 1 year high of $16.62. The stock has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $13.87.

First BanCorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 25th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.22%. The ex-dividend date is Wednesday, August 24th. First BanCorp.’s dividend payout ratio (DPR) is 32.00%.

Insider Activity

In related news, Director Roberto R. Herencia sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.11, for a total transaction of $1,411,000.00. Following the completion of the sale, the director now directly owns 732,484 shares of the company’s stock, valued at approximately $10,335,349.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other First BanCorp. news, EVP Nayda Rivera sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $15.00, for a total value of $300,000.00. Following the transaction, the executive vice president now directly owns 276,911 shares of the company’s stock, valued at approximately $4,153,665. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roberto R. Herencia sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $14.11, for a total transaction of $1,411,000.00. Following the sale, the director now directly owns 732,484 shares of the company’s stock, valued at approximately $10,335,349.24. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $2,608,400 over the last 90 days. Company insiders own 2.10% of the company’s stock.

First BanCorp. Company Profile

(Get Rating)

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.

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Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

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