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Hsbc Holdings PLC lifted its holdings in First BanCorp. (NYSE:FBP – Free Report) by 376.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,977 shares of the bank’s stock after purchasing an additional 80,582 shares during the quarter. Hsbc Holdings PLC’s holdings in First BanCorp. were worth $2,168,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in FBP. Royal Bank of Canada increased its holdings in shares of First BanCorp. by 24.4% in the first quarter. Royal Bank of Canada now owns 42,927 shares of the bank’s stock valued at $824,000 after buying an additional 8,419 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First BanCorp. by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,368 shares of the bank’s stock worth $1,847,000 after purchasing an additional 4,236 shares during the period. Jones Financial Companies Lllp raised its position in shares of First BanCorp. by 328.8% during the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock worth $57,000 after purchasing an additional 2,262 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First BanCorp. by 6.1% during 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 purchasing an additional 29,631 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of First BanCorp. by 1,445.7% during the first quarter. Jane Street Group LLC now owns 430,329 shares of the bank’s stock valued at $8,249,000 after purchasing an additional 402,488 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.
First BanCorp. Trading Down 0.1%
Shares of NYSE FBP opened at $28.78 on Monday. 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. has a one year low of $19.16 and a one year high of $29.00. The business has a 50-day moving average price of $25.66 and a two-hundred day moving average price of $23.37. The firm has a market capitalization of $4.45 billion, a PE ratio of 12.14, a PEG ratio of 1.75 and a beta of 0.82.
First BanCorp. Dividend Announcement
The business also recently disclosed 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 of this dividend is Thursday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. First BanCorp.’s payout ratio is presently 33.76%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on FBP shares. Raymond James Financial lifted their price target on First BanCorp. from $27.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Benchmark upped their price objective on shares of First BanCorp. from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial raised their target price on shares of First BanCorp. from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings raised shares of First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 1st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $28.75.
View Our Latest Stock Report on First BanCorp.
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.
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