66,625 Shares in First BanCorp. $FBP Bought by FJ Capital Management LLC

FJ Capital Management LLC acquired a new position in shares of First BanCorp. (NYSE:FBP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 66,625 shares of the bank’s stock, valued at approximately $1,381,000.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in First BanCorp. by 151.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,129 shares during the last quarter. First Horizon Corp acquired a new stake in First BanCorp. in the fourth quarter valued at $40,000. Jones Financial Companies Lllp grew its holdings in First BanCorp. by 328.8% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,262 shares during the last quarter. State of Wyoming acquired a new stake in First BanCorp. in the fourth quarter valued at $64,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in First BanCorp. in the fourth quarter valued at $74,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on FBP. Piper Sandler upped their target price on First BanCorp. from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Truist Financial upped their target price on First BanCorp. from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Raymond James Financial raised First BanCorp. from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $26.00 to $27.00 in a report on Monday, April 27th. Wells Fargo & Company upped their target price on First BanCorp. from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods upped their target price on First BanCorp. from $24.50 to $26.00 and gave the company a “market perform” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $25.86.

First BanCorp. Stock Up 1.9%

Shares of NYSE:FBP opened at $25.49 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. First BanCorp. has a 52-week low of $19.16 and a 52-week high of $25.56. The stock’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $22.12. The company has a market capitalization of $3.94 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.53 and a beta of 0.83.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. First BanCorp. had a return on equity of 17.51% and a net margin of 28.31%.The business had revenue of $258.64 million for the quarter, compared to the consensus estimate of $263.54 million. During the same period in the prior year, the business earned $0.47 earnings per share. As a group, equities research analysts forecast that First BanCorp. will post 2.25 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 28th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, May 28th. First BanCorp.’s dividend payout ratio is currently 35.56%.

First BanCorp. Profile

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.