Sei Investments Co. Grows Position in First BanCorp. (NYSE:FBP)

Sei Investments Co. increased its holdings in First BanCorp. (NYSE:FBP) by 103.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,604 shares of the bank’s stock after purchasing an additional 87,620 shares during the period. Sei Investments Co. owned 0.08% of First BanCorp. worth $2,057,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. grew its position in shares of First BanCorp. by 3.6% in the first quarter. BlackRock Inc. now owns 32,243,831 shares of the bank’s stock valued at $363,067,000 after purchasing an additional 1,107,984 shares during the period. Bank of New York Mellon Corp grew its position in shares of First BanCorp. by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 6,138,348 shares of the bank’s stock valued at $69,118,000 after purchasing an additional 387,601 shares during the period. Geode Capital Management LLC grew its position in shares of First BanCorp. by 11.7% in the first quarter. Geode Capital Management LLC now owns 4,105,619 shares of the bank’s stock valued at $46,229,000 after purchasing an additional 429,444 shares during the period. Schroder Investment Management Group grew its position in shares of First BanCorp. by 30.9% in the first quarter. Schroder Investment Management Group now owns 3,764,055 shares of the bank’s stock valued at $42,383,000 after purchasing an additional 888,159 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of First BanCorp. by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,338,227 shares of the bank’s stock valued at $37,588,000 after purchasing an additional 216,457 shares during the period. 92.25% of the stock is owned by institutional investors and hedge funds.

FBP stock opened at $12.17 on Friday. The stock has a 50-day moving average price of $12.31 and a two-hundred day moving average price of $12.15. First BanCorp. has a 12-month low of $4.94 and a 12-month high of $13.25. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.23. The company has a market cap of $2.54 billion, a PE ratio of 12.55 and a beta of 1.38.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings results on Thursday, July 22nd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.09. First BanCorp. had a return on equity of 10.30% and a net margin of 23.52%. The firm had revenue of $214.67 million during the quarter, compared to the consensus estimate of $204.66 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. Equities analysts forecast that First BanCorp. will post 1.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Thursday, August 26th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Wednesday, August 25th. First BanCorp.’s dividend payout ratio (DPR) is presently 63.64%.

Separately, Zacks Investment Research raised First BanCorp. from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, July 27th.

About First BanCorp.

First BanCorp (Puerto Rico) is a holding company, which engages in the provision of personal, commercial, and corporate banking services through its subsidiaries. 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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