Nayda Rivera Sells 10,000 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 10,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $29.59, for a total transaction of $295,900.00. Following the completion of the sale, the executive vice president owned 240,398 shares of the company’s stock, valued at approximately $7,113,376.82. This represents a 3.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

First BanCorp. Stock Performance

FBP stock opened at $28.26 on Friday. First BanCorp. has a 1-year low of $19.16 and a 1-year high of $29.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.31 billion, a PE ratio of 11.92, a P/E/G ratio of 1.53 and a beta of 0.81. The business’s 50-day moving average price is $27.50 and its two-hundred day moving average price is $24.39.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%.The company had revenue of $264.86 million during the quarter, compared to the consensus estimate of $265.31 million. As a group, research analysts forecast that First BanCorp. will post 2.4 earnings per share for the current year.

First BanCorp. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. First BanCorp.’s payout ratio is presently 33.76%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FBP shares. Keefe, Bruyette & Woods boosted their price objective on shares of First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. Truist Financial increased their target price on First BanCorp. from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Benchmark lifted their price target on First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Raymond James Financial boosted their price target on First BanCorp. from $27.00 to $32.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Company upped their price objective on First BanCorp. from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, First BanCorp. presently has an average rating of “Buy” and an average target price of $29.38.

Institutional Trading of First BanCorp.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its position in shares of First BanCorp. by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 151,294 shares of the bank’s stock worth $3,151,000 after acquiring an additional 529 shares in the last quarter. Fifth Third Bancorp raised its position in First BanCorp. by 64.9% during the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank’s stock valued at $30,000 after purchasing an additional 560 shares in the last quarter. Measured Wealth Private Client Group LLC raised its position in First BanCorp. by 1.9% during the first quarter. Measured Wealth Private Client Group LLC now owns 35,979 shares of the bank’s stock valued at $769,000 after purchasing an additional 656 shares in the last quarter. Baron Wealth Management LLC lifted its stake in First BanCorp. by 7.1% during the first quarter. Baron Wealth Management LLC now owns 15,207 shares of the bank’s stock worth $325,000 after purchasing an additional 1,011 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in First BanCorp. by 151.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock worth $39,000 after purchasing an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

First BanCorp. Company 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.