First BanCorp. (NYSE:FBP) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of First BanCorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $7.50 target price on shares of First BanCorp. in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $7.00.
First BanCorp. (NYSE FBP) opened at 5.94 on Wednesday. The company has a 50-day moving average of $5.73 and a 200 day moving average of $5.98. The stock has a market cap of $1.27 billion, a P/E ratio of 13.81 and a beta of 2.01. First BanCorp. has a 1-year low of $4.28 and a 1-year high of $7.05.
First BanCorp. (NYSE:FBP) last posted its earnings results on Tuesday, April 25th. The bank reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. First BanCorp. had a net margin of 14.82% and a return on equity of 5.31%. The company had revenue of $130.79 million for the quarter, compared to analysts’ expectations of $139.80 million. During the same quarter in the prior year, the company posted $0.11 earnings per share. Analysts predict that First BanCorp. will post $0.45 EPS for the current year.
In other news, EVP Nayda Rivera sold 26,081 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $6.05, for a total transaction of $157,790.05. Following the sale, the executive vice president now owns 446,014 shares of the company’s stock, valued at $2,698,384.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lawrence Odell sold 25,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $6.10, for a total transaction of $152,500.00. Following the sale, the executive vice president now directly owns 421,294 shares in the company, valued at approximately $2,569,893.40. The disclosure for this sale can be found here. Insiders sold 101,081 shares of company stock worth $611,290 in the last ninety days. 21.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in shares of First BanCorp. by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 64,000 shares of the bank’s stock valued at $371,000 after buying an additional 200 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of First BanCorp. by 1.4% in the second quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock valued at $151,000 after buying an additional 370 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of First BanCorp. by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 31,046 shares of the bank’s stock valued at $179,000 after buying an additional 13,776 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of First BanCorp. by 21.5% in the second quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock valued at $139,000 after buying an additional 4,256 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in shares of First BanCorp. by 83.2% in the first quarter. Point72 Asset Management L.P. now owns 2,226,770 shares of the bank’s stock valued at $12,581,000 after buying an additional 1,010,970 shares in the last quarter. 84.97% of the stock is currently owned by institutional investors and hedge funds.
First BanCorp. Company Profile
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