Diversified Trust Co Grows Stock Position in First BanCorp. (NYSE:FBP)

Diversified Trust Co boosted its stake in shares of First BanCorp. (NYSE:FBP) by 136.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,479 shares of the bank’s stock after acquiring an additional 15,839 shares during the quarter. Diversified Trust Co’s holdings in First BanCorp. were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FBP. Private Wealth Management Group LLC purchased a new stake in shares of First BanCorp. during the fourth quarter valued at approximately $26,000. Neo Ivy Capital Management purchased a new stake in First BanCorp. during the 4th quarter valued at $36,000. Strs Ohio boosted its position in First BanCorp. by 206.3% during the 4th quarter. Strs Ohio now owns 4,900 shares of the bank’s stock valued at $80,000 after buying an additional 3,300 shares during the period. Headlands Technologies LLC bought a new stake in First BanCorp. in the 4th quarter worth $113,000. Finally, AXQ Capital LP purchased a new position in shares of First BanCorp. in the third quarter valued at about $186,000. 97.91% of the stock is currently owned by institutional investors.

First BanCorp. Trading Down 1.7 %

NYSE:FBP opened at $18.29 on Thursday. First BanCorp. has a 12 month low of $12.05 and a 12 month high of $18.63. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $17.76 and a 200-day moving average price of $17.05. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 1.50 and a beta of 1.12.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.06. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. The business had revenue of $302.49 million for the quarter, compared to analysts’ expectations of $229.19 million. During the same period in the previous year, the firm posted $0.39 EPS. Equities analysts predict that First BanCorp. will post 1.76 EPS for the current year.

First BanCorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Thursday, May 30th were paid a $0.16 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.64 annualized dividend and a yield of 3.50%. First BanCorp.’s payout ratio is 36.57%.

Analyst Ratings Changes

FBP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Wells Fargo & Company lifted their price objective on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th.

Insiders Place Their Bets

In other news, EVP Carlos Power sold 5,277 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total transaction of $95,038.77. Following the sale, the executive vice president now owns 255,236 shares in the company, valued at approximately $4,596,800.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Gonzalez Orlando Berges sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $17.92, for a total value of $1,344,000.00. Following the sale, the chief financial officer now owns 277,020 shares in the company, valued at approximately $4,964,198.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carlos Power sold 5,277 shares of First BanCorp. stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $18.01, for a total value of $95,038.77. Following the transaction, the executive vice president now owns 255,236 shares of the company’s stock, valued at approximately $4,596,800.36. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

First BanCorp. Company 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.