First Bancorp (NYSE:FBP) has been given an average rating of “Buy” by the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.50.
A number of analysts have recently commented on the company. ValuEngine downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Zacks Investment Research downgraded First Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd.
Shares of First Bancorp stock opened at $11.01 on Friday. First Bancorp has a fifty-two week low of $7.39 and a fifty-two week high of $11.94. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.01.
First Bancorp (NYSE:FBP) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). First Bancorp had a return on equity of 7.43% and a net margin of 28.97%. The business had revenue of $162.72 million for the quarter, compared to analysts’ expectations of $163.50 million. During the same period in the prior year, the company earned $0.15 EPS. Analysts expect that First Bancorp will post 0.76 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC acquired a new stake in shares of First Bancorp during the 1st quarter worth $270,000. Federated Investors Inc. PA increased its holdings in shares of First Bancorp by 120.1% during the 1st quarter. Federated Investors Inc. PA now owns 772,397 shares of the bank’s stock worth $8,851,000 after buying an additional 421,457 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of First Bancorp during the 1st quarter worth $320,000. Swiss National Bank increased its holdings in shares of First Bancorp by 3.1% during the 1st quarter. Swiss National Bank now owns 376,100 shares of the bank’s stock worth $4,310,000 after buying an additional 11,300 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of First Bancorp by 284.2% during the 1st quarter. CIBC Private Wealth Group LLC now owns 54,636 shares of the bank’s stock worth $626,000 after buying an additional 40,417 shares during the last quarter. Institutional investors and hedge funds own 91.44% of the company’s stock.
First Bancorp Company Profile
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in 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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