Shares of First Bancorp (NYSE:FBP) have received an average rating of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.00.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine raised shares of First Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, Piper Jaffray reaffirmed a “buy” rating and set a $8.00 target price on shares of First Bancorp in a research note on Monday, January 29th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of First Bancorp by 323.5% in the third quarter. SG Americas Securities LLC now owns 61,116 shares of the bank’s stock valued at $313,000 after purchasing an additional 46,685 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Bancorp by 7.9% in the third quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock valued at $59,974,000 after purchasing an additional 860,841 shares during the period. California Public Employees Retirement System boosted its stake in shares of First Bancorp by 3.0% in the third quarter. California Public Employees Retirement System now owns 822,399 shares of the bank’s stock valued at $4,211,000 after purchasing an additional 23,999 shares during the period. Citadel Advisors LLC boosted its stake in shares of First Bancorp by 145.4% in the third quarter. Citadel Advisors LLC now owns 89,578 shares of the bank’s stock valued at $459,000 after purchasing an additional 53,074 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in shares of First Bancorp by 3.4% in the fourth quarter. Thrivent Financial For Lutherans now owns 3,529,245 shares of the bank’s stock valued at $17,999,000 after purchasing an additional 115,262 shares during the period. 92.48% of the stock is owned by institutional investors and hedge funds.
First Bancorp stock traded up $0.26 during midday trading on Friday, hitting $6.69. 1,318,141 shares of the stock were exchanged, compared to its average volume of 1,929,236. First Bancorp has a fifty-two week low of $4.48 and a fifty-two week high of $6.73. The stock has a market cap of $1,377.69, a P/E ratio of 12.74, a PEG ratio of 0.54 and a beta of 1.78. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.50.
First Bancorp (NYSE:FBP) last released its quarterly earnings data on Monday, January 29th. The bank reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The firm had revenue of $137.22 million during the quarter, compared to analysts’ expectations of $137.80 million. First Bancorp had a net margin of 9.88% and a return on equity of 5.89%. During the same period last year, the business earned $0.11 earnings per share. analysts forecast that First Bancorp will post 0.42 EPS for the current year.
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About First Bancorp
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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