First BanCorp. $FBP Stock Position Increased by Thrivent Financial for Lutherans

Posted by Geri Gentry on May 21st, 2026

Thrivent Financial for Lutherans lifted its position in First BanCorp. (NYSE:FBP – Free Report) by 147.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 369,821 shares of the bank’s stock after buying an additional 220,318 shares during the period. Thrivent Financial for Lutherans’ holdings in First BanCorp. were worth $7,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of First BanCorp. by 5.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the bank’s stock worth $234,000 after buying an additional 526 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of First BanCorp. by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 151,294 shares of the bank’s stock worth $3,151,000 after buying an additional 529 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of First BanCorp. by 4.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,217 shares of the bank’s stock worth $313,000 after buying an additional 557 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of First BanCorp. by 14.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 4,785 shares of the bank’s stock worth $106,000 after buying an additional 605 shares in the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of First BanCorp. by 3.4% in the 3rd quarter. Alps Advisors Inc. now owns 20,951 shares of the bank’s stock worth $462,000 after buying an additional 687 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

FBP has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on First BanCorp. from $24.50 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Raymond James Financial raised First BanCorp. from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $26.00 to $27.00 in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on First BanCorp. from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Truist Financial boosted their target price on First BanCorp. from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised First BanCorp. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.86.

View Our Latest Report on FBP

First BanCorp. Stock Up 2.4%

Shares of First BanCorp. stock opened at $24.12 on Thursday. The stock’s fifty day moving average is $22.46 and its 200-day moving average is $21.61. The firm has a market capitalization of $3.73 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.10. First BanCorp. has a 12-month low of $19.16 and a 12-month high of $24.57.

First BanCorp. (NYSE:FBP – Get Free Report) last announced its earnings results on Thursday, April 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $258.64 million for the quarter, compared to analyst estimates of $263.54 million. First BanCorp. had a return on equity of 17.51% and a net margin of 28.31%.During the same period in the previous year, the firm earned $0.47 earnings per share. Equities analysts anticipate that First BanCorp. will post 2.25 earnings per share for the current year.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 28th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 28th. First BanCorp.’s payout ratio is presently 35.56%.

First BanCorp. Profile

(Free Report)

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.