Blue Trust Inc. Has $42,000 Position in First BanCorp. (NYSE:FBP)

Blue Trust Inc. boosted its position in First BanCorp. (NYSE:FBP) by 31.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,243 shares of the bank’s stock after purchasing an additional 542 shares during the quarter. Blue Trust Inc.’s holdings in First BanCorp. were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vicus Capital bought a new position in shares of First BanCorp. during the 4th quarter worth approximately $201,000. Wilmington Savings Fund Society FSB boosted its holdings in First BanCorp. by 17.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock worth $68,000 after purchasing an additional 544 shares during the last quarter. Vest Financial LLC grew its position in First BanCorp. by 83.4% in the fourth quarter. Vest Financial LLC now owns 132,280 shares of the bank’s stock valued at $2,459,000 after purchasing an additional 60,155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in First BanCorp. in the 4th quarter valued at $420,000. Finally, EMC Capital Management lifted its position in First BanCorp. by 129.9% during the 4th quarter. EMC Capital Management now owns 22,904 shares of the bank’s stock worth $426,000 after buying an additional 12,943 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Transactions at First BanCorp.

In other First BanCorp. news, EVP Carlos Power sold 10,321 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $20.75, for a total transaction of $214,160.75. Following the completion of the sale, the executive vice president now owns 176,222 shares of the company’s stock, valued at $3,656,606.50. This trade represents a 5.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FBP has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price objective on 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 reduced their price target on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.40.

First BanCorp. Stock Performance

Shares of FBP stock opened at $19.21 on Thursday. The company has a fifty day moving average price of $19.61 and a two-hundred day moving average price of $20.21. First BanCorp. has a one year low of $16.24 and a one year high of $22.40. The stock has a market cap of $3.15 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.34 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80.

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 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 prior year, the company posted $0.46 earnings per share. As a group, equities analysts predict that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.75%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, February 21st. First BanCorp.’s dividend payout ratio (DPR) is presently 39.78%.

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.