Nayda Rivera Sells 10,000 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was 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 in the company, valued at approximately $6,494,919.62. The trade was a 4.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $29.59, for a total value of $295,900.00.

First BanCorp. Price Performance

Shares of FBP stock traded up $0.31 during trading hours on Friday, hitting $28.02. The stock had a trading volume of 1,255,102 shares, compared to its average volume of 1,438,174. First BanCorp. has a one year low of $19.16 and a one year high of $29.88. 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 price is $27.79 and its two-hundred day moving average price is $24.57. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.51 and a beta of 0.81.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.08. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%.The company had revenue of $264.86 million during the quarter, compared to analyst estimates of $265.31 million. Equities analysts forecast that First BanCorp. will post 2.4 EPS for the current year.

First BanCorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 27th. First BanCorp.’s dividend payout ratio is 33.76%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FBP. Wells Fargo & Company raised their target price on shares of First BanCorp. from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Zacks Research raised shares of First BanCorp. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Benchmark increased 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, July 23rd. Raymond James Financial lifted their price objective on shares of First BanCorp. from $27.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First BanCorp. from $27.00 to $31.00 and gave the stock a “market perform” rating in a report on Thursday, July 23rd. Four investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $29.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in First BanCorp. by 2,432.7% during the second quarter. California State Teachers Retirement System now owns 4,694,920 shares of the bank’s stock valued at $122,397,000 after acquiring an additional 4,509,550 shares during the last quarter. Norges Bank bought a new stake in shares of First BanCorp. in the 4th quarter worth about $42,138,000. Boston Partners boosted its stake in shares of First BanCorp. by 767.8% during the 3rd quarter. Boston Partners now owns 1,262,241 shares of the bank’s stock worth $27,832,000 after purchasing an additional 1,116,791 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of First BanCorp. by 48.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,661,695 shares of the bank’s stock worth $56,854,000 after purchasing an additional 871,860 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in First BanCorp. by 82.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,434,382 shares of the bank’s stock valued at $29,878,000 after purchasing an additional 649,987 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

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.