-logo-1200x675.gif)
First BanCorp. (NYSE:FBP - Get Free Report) EVP Nayda Rivera sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the sale, the executive vice president owned 230,398 shares of the company's stock, valued at approximately $6,494,919.62. This trade represents a 4.16% decrease in their position. 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 stock was sold at an average price of $29.59, for a total transaction of $295,900.00.
First BanCorp. Price Performance
Shares of NYSE:FBP opened at $28.02 on Friday. The company's fifty day moving average is $27.85 and its two-hundred day moving average is $24.60. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. First BanCorp. has a 12-month low of $19.16 and a 12-month high of $29.88. The company has a market cap of $4.28 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81.
First BanCorp. (NYSE:FBP - Get Free Report) last released its earnings results on Wednesday, July 22nd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.08. The company had revenue of $264.86 million during the quarter, compared to analyst estimates of $265.31 million. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%. Equities analysts expect that First BanCorp. will post 2.4 earnings per share for the current fiscal year.
First BanCorp. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 27th. First BanCorp.'s payout ratio is presently 33.76%.
Hedge Funds Weigh In On First BanCorp.
Hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in First BanCorp. by 0.4% during the second quarter. California State Teachers Retirement System now owns 151,294 shares of the bank's stock valued at $3,151,000 after acquiring an additional 529 shares in the last quarter. Corient Private Wealth LP lifted its stake in First BanCorp. by 3.0% in the second quarter. Corient Private Wealth LP now owns 18,382 shares of the bank's stock valued at $479,000 after acquiring an additional 536 shares during the last quarter. Fifth Third Bancorp grew its position in First BanCorp. by 64.9% in the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank's stock worth $30,000 after acquiring an additional 560 shares in the last quarter. Measured Wealth Private Client Group LLC grew its position in First BanCorp. by 1.9% in the first quarter. Measured Wealth Private Client Group LLC now owns 35,979 shares of the bank's stock worth $769,000 after acquiring an additional 656 shares in the last quarter. Finally, Baron Wealth Management LLC increased its stake in shares of First BanCorp. by 7.1% during the 1st quarter. Baron Wealth Management LLC now owns 15,207 shares of the bank's stock worth $325,000 after purchasing an additional 1,011 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.
Wall Street Analyst Weigh In
FBP has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on First BanCorp. from $28.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. Weiss Ratings upgraded First BanCorp. from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 1st. Truist Financial upped their price objective on shares of First BanCorp. from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods increased their target price on shares of First BanCorp. from $27.00 to $31.00 and gave the stock a "market perform" rating in a research report on Thursday, July 23rd. Finally, Benchmark lifted their target price on shares of First BanCorp. from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $29.38.
View Our Latest Analysis on FBP
About First BanCorp.
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
