SG Americas Securities LLC Cuts Stake in First BanCorp. $FBP

Posted by Stanley Muller on Jul 3rd, 2026

SG Americas Securities LLC cut its holdings in shares of First BanCorp. (NYSE:FBP – Free Report) by 29.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,127 shares of the bank’s stock after selling 37,453 shares during the quarter. SG Americas Securities LLC’s holdings in First BanCorp. were worth $1,946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its stake in shares of First BanCorp. by 0.4% in the second quarter. California State Teachers Retirement System now owns 151,294 shares of the bank’s stock worth $3,151,000 after acquiring an additional 529 shares in the last quarter. Baron Wealth Management LLC raised its stake in shares of First BanCorp. by 7.1% in the first quarter. Baron Wealth Management LLC now owns 15,207 shares of the bank’s stock valued at $325,000 after acquiring an additional 1,011 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of First BanCorp. by 1.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 68,322 shares of the bank’s stock valued at $1,416,000 after acquiring an additional 1,068 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in First BanCorp. by 151.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,129 shares during the period. Finally, Covestor Ltd boosted its holdings in First BanCorp. by 37.6% in the fourth quarter. Covestor Ltd now owns 4,199 shares of the bank’s stock valued at $87,000 after purchasing an additional 1,147 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. 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 note on Thursday, April 23rd. Piper Sandler increased their price target on First BanCorp. from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, April 23rd. Raymond James Financial lifted their price objective on First BanCorp. from $27.00 to $32.00 and gave the company a “strong-buy” rating in a research note on Wednesday. Weiss Ratings raised First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 1st. Finally, Truist Financial upped their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $26.57.

Check Out Our Latest Report on FBP

First BanCorp. Stock Performance

Shares of FBP stock opened at $26.37 on Friday. 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 firm has a fifty day moving average price of $24.57 and a 200 day moving average price of $22.69. The company has a market cap of $4.08 billion, a P/E ratio of 11.72, a PEG ratio of 1.60 and a beta of 0.82. First BanCorp. has a 12 month low of $19.16 and a 12 month high of $26.94.

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

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Thursday, May 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, May 28th. First BanCorp.’s dividend payout ratio is currently 35.56%.

First BanCorp. Company 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.