26,404 Shares in First BanCorp. $FBP Purchased by denkapparat Operations GmbH

denkapparat Operations GmbH purchased a new position in shares of First BanCorp. (NYSE:FBP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,404 shares of the bank’s stock, valued at approximately $688,000.

A number of other large investors also recently bought and sold shares of FBP. Norges Bank purchased a new stake in First BanCorp. in the 4th quarter valued at about $42,138,000. Boston Partners boosted its holdings in shares of First BanCorp. by 767.8% in the third quarter. Boston Partners now owns 1,262,241 shares of the bank’s stock valued at $27,832,000 after purchasing an additional 1,116,791 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of First BanCorp. by 48.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,661,695 shares of the bank’s stock valued at $56,854,000 after purchasing an additional 871,860 shares during the period. Qube Research & Technologies Ltd grew its stake in First BanCorp. by 82.9% in the second quarter. Qube Research & Technologies Ltd now owns 1,434,382 shares of the bank’s stock worth $29,878,000 after purchasing an additional 649,987 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in First BanCorp. by 31.6% in the third quarter. Verition Fund Management LLC now owns 2,284,146 shares of the bank’s stock worth $50,365,000 after purchasing an additional 548,164 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the sale, the executive vice president owned 230,398 shares of the company’s stock, valued at approximately $6,494,919.62. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Roberto Herencia sold 26,350 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $28.48, for a total transaction of $750,448.00. Following the transaction, the director owned 610,669 shares in the company, valued at $17,391,853.12. The trade was a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,350 shares of company stock valued at $1,328,248 over the last quarter. 1.90% of the stock is owned by company insiders.

First BanCorp. Stock Up 0.3%

Shares of FBP stock opened at $28.54 on Friday. The stock’s fifty 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 company has a market cap 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 released 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 analysts’ expectations of $265.31 million. On average, research analysts expect 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. Investors of record on Thursday, August 27th will be paid a $0.20 dividend. The ex-dividend date is Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. First BanCorp.’s dividend payout ratio (DPR) is 33.76%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FBP. Zacks Research upgraded shares of First BanCorp. from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their price target on shares of First BanCorp. from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods increased their price objective on shares of First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Truist Financial lifted their price objective on shares of First BanCorp. from $26.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of First BanCorp. in a research note on Thursday, August 27th. Four research 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 company’s stock. According to data from MarketBeat, First BanCorp. presently has an average rating of “Buy” and an average target price of $29.38.

First BanCorp. 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.