Brokerages Set First BanCorp. (FBP) PT at $6.75

Shares of First BanCorp. (NYSE:FBP) have been given an average rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.75.

A number of analysts have recently weighed in on the company. ValuEngine lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Thursday, October 12th. Piper Jaffray Companies restated a “buy” rating and set a $7.50 target price on shares of First BanCorp. in a research report on Friday, November 10th. TheStreet cut First BanCorp. from a “b-” rating to a “c” rating in a report on Tuesday, November 7th. Finally, Bank of America cut their price objective on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 8th.

First BanCorp. (FBP) traded up $0.02 on Friday, hitting $5.02. The stock had a trading volume of 1,739,670 shares, compared to its average volume of 1,598,776. The company has a market capitalization of $1,087.36, a PE ratio of 10.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.92. First BanCorp. has a 12 month low of $4.48 and a 12 month high of $7.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.62.

Several large investors have recently bought and sold shares of FBP. Point72 Asset Management L.P. increased its position in shares of First BanCorp. by 194.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,630,900 shares of the bank’s stock worth $28,830,000 after purchasing an additional 3,720,200 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of First BanCorp. by 2,805.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 2,622,666 shares of the bank’s stock worth $15,186,000 after purchasing an additional 2,532,413 shares during the last quarter. BlackRock Inc. increased its position in shares of First BanCorp. by 9.8% during the 2nd quarter. BlackRock Inc. now owns 19,334,736 shares of the bank’s stock worth $111,947,000 after purchasing an additional 1,721,947 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of First BanCorp. by 20.7% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 9,515,724 shares of the bank’s stock worth $55,096,000 after purchasing an additional 1,634,175 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First BanCorp. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,852,681 shares of the bank’s stock worth $62,837,000 after purchasing an additional 1,562,989 shares during the last quarter. 90.37% of the stock is currently owned by hedge funds and other institutional investors.

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