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First BanCorp. (NYSE:FBP - Get Free Report) CFO Gonzalez Orlando Berges sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.92, for a total transaction of $1,344,000.00. Following the completion of the sale, the chief financial officer now directly owns 277,020 shares of the company's stock, valued at approximately $4,964,198.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
First BanCorp. Stock Up 0.6 %
Shares of FBP opened at $18.08 on Friday. The firm has a 50 day simple moving average of $17.06 and a two-hundred day simple moving average of $16.11. The company has a market cap of $3.06 billion, a P/E ratio of 10.33, a P/E/G ratio of 1.48 and a beta of 1.16. First BanCorp. has a one year low of $10.18 and a one year high of $18.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.76.
First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. The company had revenue of $302.49 million during the quarter, compared to analysts' expectations of $229.19 million. During the same quarter in the previous year, the firm earned $0.39 EPS. Research analysts forecast that First BanCorp. will post 1.76 EPS for the current fiscal year.
First BanCorp. Announces Dividend
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a $0.16 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.54%. First BanCorp.'s payout ratio is currently 36.57%.
Analyst Ratings Changes
FBP has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $19.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, April 25th. Wells Fargo & Company boosted their price target on First BanCorp. from $16.00 to $18.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 10th.
Get Our Latest Stock Report on First BanCorp.
Institutional Investors Weigh In On First BanCorp.
Several hedge funds and other institutional investors have recently made changes to their positions in FBP. Private Wealth Management Group LLC acquired a new position in shares of First BanCorp. during the fourth quarter worth $26,000. Neo Ivy Capital Management acquired a new position in First BanCorp. in the 4th quarter worth about $36,000. Strs Ohio increased its holdings in First BanCorp. by 206.3% in the 4th quarter. Strs Ohio now owns 4,900 shares of the bank's stock worth $80,000 after purchasing an additional 3,300 shares in the last quarter. Headlands Technologies LLC bought a new position in First BanCorp. in the fourth quarter valued at about $113,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of First BanCorp. during the third quarter valued at about $138,000. 97.91% of the stock is owned by institutional investors.
First BanCorp. Company Profile
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Get Free Report)
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.
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