Brokerages forecast that First BanCorp. (NYSE:FBP) will post $0.12 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for First BanCorp.’s earnings. First BanCorp. posted earnings of $0.11 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 9.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that First BanCorp. will report full-year earnings of $0.47 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.48. For the next year, analysts forecast that the company will post earnings of $0.50 per share, with EPS estimates ranging from $0.47 to $0.52. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover First BanCorp..

First BanCorp. (NYSE:FBP) last released its earnings results on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. The firm had revenue of $144.45 million for the quarter, compared to the consensus estimate of $145.55 million. During the same period in the prior year, the business posted $0.10 earnings per share.

Several research firms have weighed in on FBP. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Tuesday, August 1st. BidaskClub lowered First BanCorp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. First BanCorp. currently has a consensus rating of “Hold” and an average target price of $7.00.

In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of First BanCorp. stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 21.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in First BanCorp. during the fourth quarter worth approximately $10,760,000. Teachers Advisors LLC raised its position in First BanCorp. by 114.1% in the fourth quarter. Teachers Advisors LLC now owns 575,716 shares of the bank’s stock worth $3,805,000 after buying an additional 306,824 shares during the last quarter. Bank of Montreal Can raised its position in First BanCorp. by 1.6% in the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after buying an additional 316 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in First BanCorp. during the first quarter worth approximately $173,000. Finally, Louisiana State Employees Retirement System raised its position in First BanCorp. by 17.7% in the first quarter. Louisiana State Employees Retirement System now owns 63,800 shares of the bank’s stock worth $360,000 after buying an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 86.06% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/08/13/zacks-brokerages-anticipate-first-bancorp-fbp-to-announce-0-12-eps.html.

Shares of First BanCorp. (NYSE:FBP) traded up 0.54% during midday trading on Friday, reaching $5.61. The company’s stock had a trading volume of 1,769,919 shares. The stock has a market capitalization of $1.21 billion, a PE ratio of 11.94 and a beta of 2.01. The stock has a 50-day moving average price of $5.85 and a 200 day moving average price of $5.88. First BanCorp. has a 52 week low of $4.28 and a 52 week high of $7.05.

About First BanCorp.

Get a free copy of the Zacks research report on First BanCorp. (FBP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First BanCorp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First BanCorp. and related companies with MarketBeat.com's FREE daily email newsletter.