Sei Investments Co. Has $8.13 Million Position in First BanCorp. (NYSE:FBP)

Sei Investments Co. grew its position in First BanCorp. (NYSE:FBP) by 4.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 437,437 shares of the bank’s stock after purchasing an additional 20,256 shares during the period. Sei Investments Co.’s holdings in First BanCorp. were worth $8,132,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC boosted its position in First BanCorp. by 267.2% in the fourth quarter. Intech Investment Management LLC now owns 705,075 shares of the bank’s stock valued at $13,107,000 after buying an additional 513,063 shares in the last quarter. State Street Corp raised its stake in shares of First BanCorp. by 3.9% in the third quarter. State Street Corp now owns 9,193,684 shares of the bank’s stock valued at $194,630,000 after acquiring an additional 347,271 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in First BanCorp. during the 4th quarter worth approximately $4,792,000. Barclays PLC grew its position in 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 acquiring an additional 189,148 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in First BanCorp. by 124.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 322,119 shares of the bank’s stock valued at $5,988,000 after purchasing an additional 178,660 shares in the last quarter. Institutional investors 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 stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $20.75, for a total value of $214,160.75. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FBP has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, First BanCorp. currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

First BanCorp. Trading Down 1.2 %

FBP stock opened at $19.21 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. First BanCorp. has a twelve month low of $16.25 and a twelve month high of $22.40. The company has a market cap of $3.15 billion, a P/E ratio of 10.61, a PEG ratio of 1.34 and a beta of 1.12. The business has a fifty day moving average of $19.59 and a 200-day moving average of $19.89.

First BanCorp. (NYSE:FBP) last released its earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.46 EPS. As a group, equities research analysts expect that First BanCorp. will post 1.85 EPS for the current 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.75%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio is 39.78%.

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.