First BanCorp. (NYSE: FBP) recently received a number of ratings updates from brokerages and research firms:

  • 10/12/2017 – First BanCorp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $5.50 price target on the stock. According to Zacks, “First Bancorp distinguished itself by providing innovative marketing strategies and novel products to attract clients. Besides the branches and lending offices, the Corporation has offered a telephone information service called Telebanco since 1983. This was the first telebanking service offered in Puerto Rico. The Corporation’s clients have access to an extensive ATM network all over the world. The Corporation was the first in Puerto Rico to open on weekends and the first to offer in-store branches to its clients. “
  • 10/3/2017 – First BanCorp. was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/2/2017 – First BanCorp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Bancorp distinguished itself by providing innovative marketing strategies and novel products to attract clients. Besides the branches and lending offices, the Corporation has offered a telephone information service called Telebanco since 1983. This was the first telebanking service offered in Puerto Rico. The Corporation’s clients have access to an extensive ATM network all over the world. The Corporation was the first in Puerto Rico to open on weekends and the first to offer in-store branches to its clients. “
  • 9/27/2017 – First BanCorp. was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Shares of First BanCorp. (FBP) traded down 0.84% on Friday, reaching $4.74. 219,425 shares of the company were exchanged. The stock has a 50 day moving average of $5.41 and a 200-day moving average of $5.61. First BanCorp. has a 52-week low of $4.72 and a 52-week high of $7.05. The company has a market capitalization of $1.01 billion, a P/E ratio of 10.30 and a beta of 1.96.

First BanCorp. (NYSE:FBP) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $144.45 million for the quarter, compared to analyst estimates of $145.55 million. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. During the same period in the prior year, the business earned $0.10 earnings per share. On average, analysts predict that First BanCorp. will post $0.47 EPS for the current fiscal year.

In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were 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 link. 21.10% of the stock is owned by corporate insiders.

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