SG Americas Securities LLC Acquires 126,177 Shares of First BanCorp. (NYSE:FBP)

Posted by on Jul 23rd, 2023

SG Americas Securities LLC grew its holdings in shares of First BanCorp. (NYSE:FBP – Free Report) by 307.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,264 shares of the bank’s stock after purchasing an additional 126,177 shares during the quarter. SG Americas Securities LLC owned about 0.09% of First BanCorp. worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc grew its stake in First BanCorp. by 32.4% in the 4th quarter. Legal & General Group Plc now owns 2,863 shares of the bank’s stock valued at $36,000 after buying an additional 700 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in First BanCorp. by 0.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 296,802 shares of the bank’s stock valued at $3,832,000 after buying an additional 906 shares during the last quarter. Scotia Capital Inc. grew its stake in First BanCorp. by 4.6% in the 4th quarter. Scotia Capital Inc. now owns 21,653 shares of the bank’s stock valued at $275,000 after buying an additional 953 shares during the last quarter. National Bank of Canada FI grew its stake in First BanCorp. by 0.8% in the 4th quarter. National Bank of Canada FI now owns 116,709 shares of the bank’s stock valued at $1,483,000 after buying an additional 977 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in First BanCorp. by 8.7% in the 4th quarter. Bank of Nova Scotia now owns 14,200 shares of the bank’s stock valued at $181,000 after buying an additional 1,131 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on FBP shares. StockNews.com upgraded shares of First BanCorp. from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Wells Fargo & Company decreased their price target on shares of First BanCorp. from $14.00 to $12.50 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th.

First BanCorp. Stock Performance

NYSE FBP opened at $13.92 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 8.11 and a beta of 1.12. The company’s fifty day moving average is $12.34 and its two-hundred day moving average is $12.47. First BanCorp. has a 52-week low of $10.18 and a 52-week high of $16.40.

First BanCorp. (NYSE:FBP – Get Free Report) last released its quarterly earnings data on Tuesday, April 25th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $274.91 million during the quarter, compared to the consensus estimate of $226.91 million. First BanCorp. had a net margin of 29.26% and a return on equity of 21.11%. During the same period last year, the firm earned $0.41 EPS. Equities research analysts forecast that First BanCorp. will post 1.48 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 24th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Tuesday, May 23rd. First BanCorp.’s payout ratio is 35.67%.

About First BanCorp.

(Free Report)

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.

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

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