Handelsbanken Fonder AB Has $601,000 Holdings in First BanCorp. (NYSE:FBP)

Handelsbanken Fonder AB decreased its holdings in shares of First BanCorp. (NYSE:FBP) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,531 shares of the bank’s stock after selling 1,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in First BanCorp. were worth $601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FBP. Charles Schwab Investment Management Inc. grew its holdings in First BanCorp. by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,084,199 shares of the bank’s stock worth $28,053,000 after acquiring an additional 52,384 shares during the period. Invesco Ltd. grew its stake in shares of First BanCorp. by 32.0% during the third quarter. Invesco Ltd. now owns 1,034,059 shares of the bank’s stock worth $13,918,000 after purchasing an additional 250,577 shares during the period. FMR LLC increased its holdings in First BanCorp. by 4.3% in the third quarter. FMR LLC now owns 12,288,893 shares of the bank’s stock valued at $165,408,000 after purchasing an additional 505,003 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in First BanCorp. by 57.8% in the third quarter. Teacher Retirement System of Texas now owns 100,719 shares of the bank’s stock valued at $1,356,000 after purchasing an additional 36,882 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in First BanCorp. by 14.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 208,646 shares of the bank’s stock valued at $2,808,000 after buying an additional 26,192 shares during the period. 97.91% of the stock is owned by institutional investors.

First BanCorp. Stock Performance

FBP stock opened at $17.24 on Wednesday. First BanCorp. has a 1-year low of $10.18 and a 1-year high of $17.74. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.92 billion, a PE ratio of 9.85, a P/E/G ratio of 1.54 and a beta of 1.16. The business’s 50-day moving average price is $16.98 and its two-hundred day moving average price is $16.05.

First BanCorp. (NYSE:FBP) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. The firm had revenue of $302.49 million for the quarter, compared to the consensus estimate of $229.19 million. During the same period last year, the company posted $0.39 EPS. As a group, research analysts forecast that First BanCorp. will post 1.69 earnings per share for the current year.

First BanCorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Wednesday, May 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.71%. First BanCorp.’s payout ratio is 36.57%.

Insider Activity at First BanCorp.

In other First BanCorp. news, CEO Aurelio Aleman sold 50,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the transaction, the chief executive officer now owns 1,126,325 shares in the company, valued at approximately $19,339,000.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other First BanCorp. news, CEO Aurelio Aleman sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $858,500.00. Following the sale, the chief executive officer now owns 1,126,325 shares in the company, valued at approximately $19,339,000.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.47, for a total transaction of $164,700.00. Following the transaction, the director now directly owns 50,055 shares of the company’s stock, valued at $824,405.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $1,280,000. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods boosted their price objective on shares of First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, April 25th.

First BanCorp. 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.