First BanCorp. (NYSE:FBP) EVP Sells $281,900.00 in Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the transaction, the executive vice president owned 230,398 shares of the company’s stock, valued at $6,494,919.62. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Nayda Rivera also recently made the following trade(s):

• On Monday, August 17th, Nayda Rivera sold 10,000 shares of First BanCorp. stock. The shares were sold at an average price of $29.59, for a total value of $295,900.00.

First BanCorp. Price Performance

FBP opened at $28.02 on Monday. 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 stock has a market capitalization of $4.28 billion, a P/E ratio of 11.82, a PEG ratio of 1.51 and a beta of 0.81. The stock has a 50-day moving average price of $27.85 and a 200-day moving average price of $24.61. First BanCorp. has a 12-month low of $19.16 and a 12-month high of $29.88.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. The company had revenue of $264.86 million for the quarter, compared to analysts’ expectations of $265.31 million. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%. Equities analysts predict that First BanCorp. will post 2.4 earnings per share for the current fiscal year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, August 27th. First BanCorp.’s payout ratio is presently 33.76%.

Institutional Investors Weigh In On First BanCorp.

Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in First BanCorp. by 64.9% in the 1st quarter. Fifth Third Bancorp now owns 1,423 shares of the bank’s stock valued at $30,000 after acquiring an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of First BanCorp. by 151.7% in the 2nd 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 in the last quarter. Jones Financial Companies Lllp raised its stake in shares of First BanCorp. by 328.8% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock worth $57,000 after purchasing an additional 2,262 shares during the last quarter. State of Wyoming bought a new position in shares of First BanCorp. during the fourth quarter valued at $64,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of First BanCorp. during the fourth quarter valued at $74,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.