Invesco Ltd. Has $34.33 Million Holdings in First BanCorp. (NYSE:FBP)

Invesco Ltd. increased its holdings in shares of First BanCorp. (NYSE:FBP) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,846,692 shares of the bank’s stock after purchasing an additional 182,754 shares during the quarter. Invesco Ltd.’s holdings in First BanCorp. were worth $34,330,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FBP. Norges Bank acquired a new position in shares of First BanCorp. during the 4th quarter worth about $35,275,000. Intech Investment Management LLC raised its holdings in First BanCorp. by 267.2% during the fourth quarter. Intech Investment Management LLC now owns 705,075 shares of the bank’s stock worth $13,107,000 after acquiring an additional 513,063 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in First BanCorp. during the fourth quarter valued at approximately $4,792,000. Trexquant Investment LP grew its stake in First BanCorp. by 159.8% in the fourth quarter. Trexquant Investment LP now owns 377,327 shares of the bank’s stock valued at $7,015,000 after purchasing an additional 232,117 shares in the last quarter. Finally, Barclays PLC increased its position in shares of First BanCorp. by 106.1% during the 3rd quarter. Barclays PLC now owns 367,445 shares of the bank’s stock worth $7,779,000 after purchasing an additional 189,148 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

First BanCorp. Stock Up 0.1 %

FBP stock opened at $18.02 on Thursday. The firm has a 50-day moving average price of $18.81 and a 200-day moving average price of $19.63. First BanCorp. has a 12 month low of $16.25 and a 12 month high of $22.40. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $2.94 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. During the same quarter last year, the company posted $0.46 EPS. As a group, equities research analysts anticipate that First BanCorp. will post 1.85 EPS for the current fiscal year.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.18 dividend. This is a boost from First BanCorp.’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 21st. This represents a $0.72 annualized dividend and a dividend yield of 4.00%. First BanCorp.’s dividend payout ratio is presently 39.78%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FBP. Keefe, Bruyette & Woods increased their price target on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research note 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 for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, First BanCorp. presently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

Insider Buying and Selling

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

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.