Versor Investments LP Sells 5,082 Shares of First BanCorp. (NYSE:FBP)

Posted by Defense World Staff on Apr 14th, 2023

Versor Investments LP trimmed its position in shares of First BanCorp. (NYSE:FBP – Get Rating) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,535 shares of the bank’s stock after selling 5,082 shares during the period. Versor Investments LP’s holdings in First BanCorp. were worth $477,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Maven Securities LTD grew its stake in First BanCorp. by 62.2% during the third quarter. Maven Securities LTD now owns 60,256 shares of the bank’s stock valued at $824,000 after acquiring an additional 23,100 shares in the last quarter. AXA S.A. purchased a new position in First BanCorp. during the third quarter valued at $3,259,000. Algert Global LLC grew its stake in First BanCorp. by 6.6% during the third quarter. Algert Global LLC now owns 294,880 shares of the bank’s stock valued at $4,034,000 after acquiring an additional 18,356 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in First BanCorp. during the third quarter valued at $873,000. Finally, Yorktown Management & Research Co Inc grew its stake in First BanCorp. by 18.9% during the third quarter. Yorktown Management & Research Co Inc now owns 60,400 shares of the bank’s stock valued at $826,000 after acquiring an additional 9,600 shares in the last quarter. 94.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John A. Heffern purchased 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average cost of $11.61 per share, with a total value of $34,830.00. Following the purchase, the director now owns 84,895 shares in the company, valued at $985,630.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.10% of the company’s stock.

First BanCorp. Stock Performance

Shares of NYSE:FBP opened at $11.32 on Friday. First BanCorp. has a 52 week low of $10.69 and a 52 week high of $16.40. The stock has a market capitalization of $2.04 billion, a P/E ratio of 7.12, a PEG ratio of 0.45 and a beta of 1.11. The firm has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $13.70. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65.

First BanCorp. (NYSE:FBP – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The bank reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). First BanCorp. had a return on equity of 20.58% and a net margin of 31.85%. The business had revenue of $219.46 million during the quarter, compared to analysts’ expectations of $241.17 million. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts expect that First BanCorp. will post 1.45 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were paid a $0.14 dividend. This is a boost from First BanCorp.’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Thursday, February 23rd. First BanCorp.’s dividend payout ratio (DPR) is presently 35.22%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FBP shares. Wells Fargo & Company cut their target price on shares of First BanCorp. from $14.00 to $12.50 and set an “equal weight” rating for the company in a research note on Wednesday, April 5th. StockNews.com started coverage on shares of First BanCorp. in a research note on Thursday, March 16th. They set a “hold” rating for the company.

About First BanCorp.

(Get Rating)

First BanCorp (Puerto Rico) is a holding company, which engages in the provision of personal, commercial, and corporate banking services. It operates through the following segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.

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Institutional Ownership by Quarter for First BanCorp. (NYSE:FBP)

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