Nayda Rivera Sells 10,000 Shares of First BanCorp. (NYSE:FBP) Stock

First BanCorp. (NYSE:FBP) EVP Nayda Rivera sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $28.19, for a total value of $281,900.00. Following the completion of the transaction, the executive vice president owned 230,398 shares of the company’s stock, valued at approximately $6,494,919.62. The trade was a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Nayda Rivera also recently made the following trade(s):

• On Monday, August 17th, Nayda Rivera sold 10,000 shares of First BanCorp. stock. The shares were sold at an average price of $29.59, for a total value of $295,900.00.

First BanCorp. Price Performance

Shares of NYSE:FBP opened at $28.02 on Friday. First BanCorp. has a twelve month low of $19.16 and a twelve month high of $29.88. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.28 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The company’s 50 day moving average is $27.85 and its 200 day moving average is $24.60.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The business had revenue of $264.86 million during the quarter, compared to analysts’ expectations of $265.31 million. First BanCorp. had a net margin of 29.24% and a return on equity of 18.03%. On average, sell-side analysts forecast that First BanCorp. will post 2.4 EPS for the current year.

First BanCorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.9%. First BanCorp.’s payout ratio is currently 33.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a research note on Thursday, July 23rd. Weiss Ratings upgraded First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 1st. Benchmark boosted their price target on First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Zacks Research upgraded First BanCorp. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Truist Financial raised their price objective on shares of First BanCorp. from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $29.38.

Institutional Investors Weigh In On First BanCorp.

Several hedge funds have recently modified their holdings of FBP. Royal Bank of Canada increased its stake in shares of First BanCorp. by 24.4% in the 1st quarter. Royal Bank of Canada now owns 42,927 shares of the bank’s stock valued at $824,000 after purchasing an additional 8,419 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in First BanCorp. by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,368 shares of the bank’s stock valued at $1,847,000 after purchasing an additional 4,236 shares during the period. Jones Financial Companies Lllp grew its holdings in First BanCorp. by 328.8% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,262 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First BanCorp. by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 516,986 shares of the bank’s stock valued at $9,911,000 after buying an additional 29,631 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of First BanCorp. by 1,445.7% in the first quarter. Jane Street Group LLC now owns 430,329 shares of the bank’s stock valued at $8,249,000 after buying an additional 402,488 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

First BanCorp. Company Profile

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.