denkapparat Operations GmbH Buys New Holdings in First BanCorp. $FBP

denkapparat Operations GmbH purchased a new position in First BanCorp. (NYSE:FBP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,404 shares of the bank’s stock, valued at approximately $688,000.

Other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in First BanCorp. by 64.9% during the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank’s stock valued at $30,000 after purchasing an additional 560 shares during the period. EverSource Wealth Advisors LLC grew its position in First BanCorp. by 151.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock worth $39,000 after purchasing an additional 1,129 shares during the period. Jones Financial Companies Lllp raised its stake in shares of First BanCorp. by 328.8% during the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock valued at $57,000 after buying an additional 2,262 shares during the last quarter. State of Wyoming purchased a new position in shares of First BanCorp. during the 4th quarter valued at about $64,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of First BanCorp. in the 4th quarter valued at about $74,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other First BanCorp. news, EVP Nayda Rivera sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roberto R. Herencia sold 26,350 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $28.48, for a total value of $750,448.00. Following the transaction, the director directly owned 610,669 shares of the company’s stock, valued at $17,391,853.12. The trade was a 4.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 46,350 shares of company stock valued at $1,328,248. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FBP. Wells Fargo & Company upped their target price on First BanCorp. from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. Zacks Research raised First BanCorp. from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Benchmark boosted their price target on First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Keefe, Bruyette & Woods upped their price objective on 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, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of First BanCorp. in a report on Thursday, August 27th. Four investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.38.

First BanCorp. Trading Up 0.3%

Shares of NYSE:FBP opened at $28.54 on Friday. The business’s 50 day moving average price is $28.04 and its 200-day moving average price is $24.79. First BanCorp. has a 1 year low of $19.16 and a 1 year high of $29.88. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.80.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.62 EPS for the quarter, topping the consensus estimate 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 net margin of 29.24% and a return on equity of 18.03%. On average, equities research analysts forecast that First BanCorp. will post 2.4 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Thursday, August 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. First BanCorp.’s payout ratio is currently 33.76%.

First BanCorp. Company Profile

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.