Measured Wealth Private Client Group LLC Acquires New Holdings in First BanCorp. (NYSE:FBP)

Measured Wealth Private Client Group LLC acquired a new stake in First BanCorp. (NYSE:FBP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,251 shares of the bank’s stock, valued at approximately $448,000.

A number of other institutional investors have also made changes to their positions in the stock. SummerHaven Investment Management LLC raised its stake in shares of First BanCorp. by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 56,423 shares of the bank’s stock valued at $928,000 after acquiring an additional 661 shares in the last quarter. Advisor Partners II LLC grew its holdings in First BanCorp. by 4.8% in the 3rd quarter. Advisor Partners II LLC now owns 17,010 shares of the bank’s stock valued at $229,000 after buying an additional 780 shares during the last quarter. Mackenzie Financial Corp grew its holdings in First BanCorp. by 8.1% in the 4th quarter. Mackenzie Financial Corp now owns 12,511 shares of the bank’s stock valued at $206,000 after buying an additional 942 shares during the last quarter. Navellier & Associates Inc. grew its holdings in First BanCorp. by 5.8% in the 3rd quarter. Navellier & Associates Inc. now owns 24,085 shares of the bank’s stock valued at $324,000 after buying an additional 1,317 shares during the last quarter. Finally, Strs Ohio grew its holdings in First BanCorp. by 206.3% in the 4th quarter. Strs Ohio now owns 4,900 shares of the bank’s stock valued at $80,000 after buying an additional 3,300 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

First BanCorp. Stock Performance

Shares of NYSE:FBP traded up $0.11 during trading on Friday, hitting $18.08. 719,736 shares of the stock were exchanged, compared to its average volume of 909,552. First BanCorp. has a 1-year low of $10.18 and a 1-year high of $18.32. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.16. The company’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $16.11. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.76 and a current ratio of 0.77.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. The company had revenue of $302.49 million for the quarter, compared to analyst estimates of $229.19 million. During the same quarter last year, the firm earned $0.39 EPS. Sell-side analysts expect that First BanCorp. will post 1.76 EPS for the current fiscal year.

First BanCorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Wednesday, May 29th. First BanCorp.’s payout ratio is presently 36.57%.

Insider Transactions at First BanCorp.

In related news, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the transaction, the director now owns 50,055 shares in the company, valued at approximately $824,405.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nayda Rivera sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.12, for a total transaction of $256,800.00. Following the completion of the transaction, the executive vice president now owns 246,930 shares in the company, valued at approximately $4,227,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.47, for a total value of $164,700.00. Following the transaction, the director now owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,000 shares of company stock valued at $2,624,000. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FBP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Wells Fargo & Company raised their target price on First BanCorp. from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th.

First BanCorp. Profile

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.