UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $9.06 Million Holdings in First BanCorp. (NYSE:FBP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First BanCorp. (NYSE:FBP) by 16.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 487,355 shares of the bank’s stock after purchasing an additional 68,057 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First BanCorp. were worth $9,060,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of First BanCorp. by 28.7% in the 4th quarter. Wells Fargo & Company MN now owns 98,810 shares of the bank’s stock valued at $1,837,000 after buying an additional 22,012 shares during the last quarter. Quantinno Capital Management LP raised its stake in First BanCorp. by 6.1% in the 4th quarter. Quantinno Capital Management LP now owns 12,637 shares of the bank’s stock valued at $235,000 after acquiring an additional 730 shares during the period. Principal Financial Group Inc. raised its stake in First BanCorp. by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 926,097 shares of the bank’s stock valued at $17,216,000 after acquiring an additional 37,432 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First BanCorp. by 52.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,797 shares of the bank’s stock valued at $1,149,000 after acquiring an additional 21,213 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in First BanCorp. in the 4th quarter valued at $420,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

First BanCorp. Stock Down 0.4%

FBP opened at $19.99 on Friday. First BanCorp. has a 1-year low of $16.40 and a 1-year high of $22.40. The stock’s fifty day simple moving average is $19.35 and its 200 day simple moving average is $19.54. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.23 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.93.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The firm had revenue of $248.13 million for the quarter, compared to analysts’ expectations of $243.08 million. First BanCorp. had a return on equity of 18.89% and a net margin of 24.37%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, research analysts expect that First BanCorp. will post 1.85 earnings per share for the current year.

First BanCorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, May 29th. First BanCorp.’s payout ratio is 39.13%.

Wall Street Analysts Forecast Growth

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

About First BanCorp.

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.