First BanCorp. $FBP Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its holdings in First BanCorp. (NYSE:FBP) by 46.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,991 shares of the bank’s stock after selling 26,404 shares during the period. State of Alaska Department of Revenue’s holdings in First BanCorp. were worth $816,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FBP. Arrowstreet Capital Limited Partnership increased its stake in First BanCorp. by 48.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,661,695 shares of the bank’s stock worth $56,854,000 after acquiring an additional 871,860 shares during the last quarter. First Trust Advisors LP raised its position in First BanCorp. by 12.2% in the first quarter. First Trust Advisors LP now owns 4,862,288 shares of the bank’s stock valued at $103,858,000 after purchasing an additional 527,991 shares during the period. Bank of America Corp DE lifted its stake in shares of First BanCorp. by 22.1% in the 1st quarter. Bank of America Corp DE now owns 1,630,778 shares of the bank’s stock valued at $34,833,000 after purchasing an additional 294,888 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of First BanCorp. by 546.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 291,969 shares of the bank’s stock valued at $6,301,000 after purchasing an additional 246,838 shares during the last quarter. Finally, Edgestream Partners L.P. grew its holdings in shares of First BanCorp. by 46.9% during the 1st quarter. Edgestream Partners L.P. now owns 607,965 shares of the bank’s stock worth $12,986,000 after purchasing an additional 193,981 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Key First BanCorp. News

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Third-quarter EPS was $0.63, exceeding the consensus estimate of $0.59 and increasing from $0.51 a year earlier. The bank reported an 18.03% return on equity and a 29.24% net margin. First BanCorp Q3 Earnings Surpass Estimates
• Positive Sentiment: First BanCorp. raised its quarterly dividend 25% to $0.25 per share, or $1.00 annualized, implying a yield of approximately 3.6%. The increase signals confidence in capital generation and may appeal to income-focused investors.
• Neutral Sentiment: Management held its third-quarter earnings call to discuss financial results and business trends with analysts. First BanCorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Revenue was $260.12 million, below analysts’ $274.32 million estimate. The top-line shortfall suggests that earnings strength did not translate into broad-based revenue growth and is likely the main reason investors reacted cautiously. First BanCorp Reports Sales Below Estimates

Insider Activity

In other news, Director Roberto Herencia sold 26,350 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $28.48, for a total value of $750,448.00. Following the transaction, the director owned 610,669 shares in the company, valued at approximately $17,391,853.12. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nayda Rivera sold 10,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 230,398 shares in the company, valued at $6,494,919.62. This trade represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 46,350 shares of company stock valued at $1,328,248. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on First BanCorp. from $27.00 to $31.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Truist Financial upped their target price on shares of First BanCorp. from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Raymond James Financial cut shares of First BanCorp. from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday, October 6th. Weiss Ratings restated a “buy (a-)” rating on shares of First BanCorp. in a report on Thursday, August 27th. Finally, Wells Fargo & Company dropped their target price on First BanCorp. from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.86.

First BanCorp. Trading Down 0.1%

Shares of NYSE:FBP opened at $27.32 on Friday. First BanCorp. has a 52 week low of $19.16 and a 52 week high of $29.88. The company’s 50 day moving average is $27.60 and its two-hundred day moving average is $26.23. The company has a market cap of $4.17 billion, a PE ratio of 12.15, a P/E/G ratio of 1.04 and a beta of 0.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10.

First BanCorp. (NYSE:FBP) last issued its earnings results on Thursday, October 22nd. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $260.12 million during the quarter, compared to the consensus estimate of $274.21 million. First BanCorp. had a net margin of 29.24% and a return on equity of 18.03%. Equities analysts predict that First BanCorp. will post 2.40 earnings per share for the current fiscal year.

First BanCorp. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.20. First BanCorp.’s payout ratio is currently 33.76%.

About First BanCorp.

First BanCorp. is a bank holding company headquartered in San Juan, Puerto Rico. Its principal subsidiary, FirstBank Puerto Rico, provides a broad range of financial products and services to individuals, businesses and government-related entities. The company’s offerings include consumer and commercial lending, residential mortgages, deposit accounts, cash-management services, credit cards, electronic banking and other financial solutions.

FirstBank serves customers through a network of branches, automated teller machines and digital banking channels.