Nayda Rivera Sells 25,000 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the completion of the transaction, the executive vice president now owns 236,490 shares of the company’s stock, valued at $5,011,223.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

First BanCorp. Price Performance

NYSE FBP opened at $21.31 on Thursday. First BanCorp. has a 12-month low of $14.53 and a 12-month high of $22.40. The firm’s 50 day moving average is $20.41 and its 200-day moving average is $19.51. The company has a market capitalization of $3.49 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.36.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The firm had revenue of $234.57 million for the quarter, compared to analyst estimates of $238.51 million. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that First BanCorp. will post 1.76 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, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.00%. First BanCorp.’s payout ratio is presently 35.36%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of First BanCorp. in the third quarter valued at $1,471,000. Cynosure Group LLC bought a new position in shares of First BanCorp. in the 3rd quarter valued at about $374,000. BNP Paribas Financial Markets increased its stake in shares of First BanCorp. by 104.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,250 shares of the bank’s stock worth $1,572,000 after purchasing an additional 37,856 shares during the last quarter. Advantage Alpha Capital Partners LP raised its holdings in shares of First BanCorp. by 11.9% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 24,653 shares of the bank’s stock valued at $522,000 after purchasing an additional 2,630 shares during the period. Finally, Algert Global LLC raised its holdings in shares of First BanCorp. by 2.9% in the 3rd quarter. Algert Global LLC now owns 676,749 shares of the bank’s stock valued at $14,327,000 after purchasing an additional 19,290 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FBP shares. Hovde Group reduced their price target on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Piper Sandler reduced their target price on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, First BanCorp. has a consensus rating of “Moderate Buy” and an average target price of $21.40.

About First BanCorp.

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.