Diversified Trust Co Has $604,000 Stock Holdings in First BanCorp. (NYSE:FBP)

Diversified Trust Co increased its stake in First BanCorp. (NYSE:FBP) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,474 shares of the bank’s stock after acquiring an additional 3,507 shares during the quarter. Diversified Trust Co’s holdings in First BanCorp. were worth $604,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its position in shares of First BanCorp. by 3.9% in the 3rd quarter. State Street Corp now owns 9,193,684 shares of the bank’s stock worth $194,630,000 after purchasing an additional 347,271 shares during the period. Barclays PLC boosted its position in First BanCorp. by 106.1% during the third quarter. Barclays PLC now owns 367,445 shares of the bank’s stock valued at $7,779,000 after acquiring an additional 189,148 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in First BanCorp. during the 3rd quarter worth about $2,607,000. Geode Capital Management LLC raised its position in shares of First BanCorp. by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,386,606 shares of the bank’s stock worth $92,879,000 after acquiring an additional 112,432 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of First BanCorp. by 135.7% in the 3rd quarter. Intech Investment Management LLC now owns 192,012 shares of the bank’s stock valued at $4,065,000 after purchasing an additional 110,531 shares during the period. 97.91% of the stock is currently owned by institutional investors.

First BanCorp. Stock Performance

NYSE FBP opened at $18.19 on Friday. The company has a market cap of $2.98 billion, a P/E ratio of 10.05, a PEG ratio of 1.79 and a beta of 1.12. The company has a fifty day simple moving average of $19.93 and a 200 day simple moving average of $20.09. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36. First BanCorp. has a 12-month low of $15.15 and a 12-month high of $22.40.

First BanCorp. (NYSE:FBP) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The company had revenue of $234.57 million during the quarter, compared to the consensus estimate of $238.51 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts predict that First BanCorp. will post 1.76 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.52%. First BanCorp.’s dividend payout ratio is presently 35.36%.

Analyst Ratings Changes

FBP has been the subject of a number of research analyst reports. Hovde Group lowered their target price on First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Keefe, Bruyette & Woods lifted their price objective on shares of First BanCorp. from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company decreased their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, First BanCorp. presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

Insider Activity at First BanCorp.

In related news, EVP Nayda Rivera sold 25,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.19, for a total transaction of $529,750.00. Following the transaction, the executive vice president now directly owns 236,490 shares in the company, valued at approximately $5,011,223.10. The trade was a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by 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.