Allspring Global Investments Holdings LLC Increases Stock Holdings in First BanCorp. $FBP

Allspring Global Investments Holdings LLC increased its holdings in First BanCorp. (NYSE:FBP) by 546.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,969 shares of the bank’s stock after buying an additional 246,838 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First BanCorp. were worth $6,301,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its stake in shares of First BanCorp. by 2.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 83,290 shares of the bank’s stock worth $1,779,000 after purchasing an additional 2,029 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in First BanCorp. by 23.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 37,725 shares of the bank’s stock valued at $806,000 after buying an additional 7,236 shares in the last quarter. Principal Financial Group Inc. increased its position in First BanCorp. by 5.4% during the first quarter. Principal Financial Group Inc. now owns 1,021,220 shares of the bank’s stock worth $21,813,000 after buying an additional 52,568 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of First BanCorp. by 64.9% in the first 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. Finally, Hsbc Holdings PLC raised its stake in First BanCorp. by 376.6% in the 1st quarter. Hsbc Holdings PLC now owns 101,977 shares of the bank’s stock valued at $2,168,000 after purchasing an additional 80,582 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting First BanCorp.

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: First BanCorp. beat Q2 expectations, reporting $0.62 EPS versus the $0.54 consensus, while earnings-call coverage highlighted robust growth and strategic initiatives. First BanCorp shares edge higher after second-quarter earnings top expectations (NYSE:FBP)
• Positive Sentiment: The company outlined 2026 loan growth of 3% to 5% and said net interest margin could expand 3 to 5 basis points per quarter, which suggests improving profitability. First BanCorp. outlines 3 percent to 5 percent 2026 loan growth, with margin seen expanding 3 to 5 bps per quarter
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on First BanCorp. (FBP) to $31 from $27, signaling improved valuation expectations even though the rating remains market perform. Benzinga article on price target raise
• Neutral Sentiment: The board also declared a quarterly dividend of $0.20 per share, reinforcing capital return but not likely the main driver of today’s trading. First BanCorp stock page

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FBP shares. Benchmark boosted their price objective on shares of First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on First BanCorp. from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Raymond James Financial raised their price target on First BanCorp. from $27.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price target on First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Weiss Ratings raised shares of First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $28.75.

First BanCorp. Stock Performance

First BanCorp. stock opened at $28.83 on Friday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.82 and a beta of 0.82. First BanCorp. has a 12 month low of $19.16 and a 12 month high of $28.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50-day moving average is $25.55 and its 200-day moving average is $23.31.

First BanCorp. (NYSE:FBP) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $264.86 million during 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 anticipate that First BanCorp. will post 2.26 earnings per share for the current year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, August 27th. First BanCorp.’s payout ratio is 35.56%.

About First BanCorp.

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.