First BanCorp. (FBP) Price Target Cut to $6.00 by Analysts at Citigroup Inc.
First BanCorp. (NYSE:FBP) had its price target decreased by stock analysts at Citigroup Inc. from $7.00 to $6.00 in a research report issued on Monday. The firm presently has a “neutral” rating on the bank’s stock. Citigroup Inc.’s price target points to a potential upside of 22.20% from the stock’s previous close.
Several other research firms also recently weighed in on FBP. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, August 1st. BidaskClub downgraded First BanCorp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. ValuEngine upgraded First BanCorp. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Bank of America Corporation lowered their target price on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $7.50 target price on shares of First BanCorp. in a research note on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.50.
First BanCorp. (NYSE:FBP) traded up $0.07 during trading on Monday, reaching $4.91. The company’s stock had a trading volume of 3,110,300 shares, compared to its average volume of 1,579,339. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1,040.00, a P/E ratio of 10.23, a PEG ratio of 1.80 and a beta of 1.95. First BanCorp. has a twelve month low of $4.48 and a twelve month high of $7.05.
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Several institutional investors and hedge funds have recently modified their holdings of FBP. Bank of Montreal Can boosted its stake in shares of First BanCorp. by 1.7% in the third quarter. Bank of Montreal Can now owns 19,520 shares of the bank’s stock worth $102,000 after buying an additional 325 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in First BanCorp. in the 1st quarter worth about $104,000. Cipher Capital LP acquired a new position in First BanCorp. in the 4th quarter worth about $105,000. Everence Capital Management Inc. acquired a new position in First BanCorp. in the 1st quarter worth about $107,000. Finally, Brandes Investment Partners LP raised its holdings in First BanCorp. by 25.0% in the 1st quarter. Brandes Investment Partners LP now owns 19,506 shares of the bank’s stock worth $110,000 after purchasing an additional 3,902 shares during the period. Hedge funds and other institutional investors own 89.20% of the company’s stock.
First BanCorp. Company Profile
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