First BanCorp. (NYSE:FBP) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in shares of First BanCorp. (NYSE:FBP) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,131 shares of the bank’s stock after buying an additional 13,998 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.08% of First BanCorp. worth $2,549,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FBP. R Squared Ltd purchased a new stake in First BanCorp. during the 4th quarter valued at about $28,000. Picton Mahoney Asset Management boosted its holdings in shares of First BanCorp. by 48.2% during the 4th quarter. Picton Mahoney Asset Management now owns 1,580 shares of the bank’s stock worth $29,000 after purchasing an additional 514 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of First BanCorp. by 31.9% during the 4th quarter. Blue Trust Inc. now owns 2,243 shares of the bank’s stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of First BanCorp. by 17.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,681 shares of the bank’s stock valued at $68,000 after purchasing an additional 544 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of First BanCorp. by 394.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,800 shares of the bank’s stock valued at $70,000 after purchasing an additional 3,032 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

First BanCorp. Stock Performance

NYSE:FBP opened at $19.99 on Friday. The company’s 50-day moving average is $19.35 and its two-hundred day moving average is $19.54. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 1.34 and a beta of 0.93.

First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.43 by $0.04. The firm had revenue of $248.13 million for the quarter, compared to analyst estimates of $243.08 million. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. Analysts forecast that First BanCorp. will post 1.85 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, May 29th. First BanCorp.’s dividend payout ratio is presently 39.13%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their price objective on First BanCorp. from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, First BanCorp. presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

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.