$0.12 Earnings Per Share Expected for First BanCorp. (FBP) This Quarter
Wall Street analysts expect First BanCorp. (NYSE:FBP) to post earnings per share of $0.12 for the current quarter, according to Zacks. Zero analysts have issued estimates for First BanCorp.’s earnings. First BanCorp. posted earnings of $0.11 per share in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is expected to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that First BanCorp. will report full-year earnings of $0.48 per share for the current financial year, with EPS estimates ranging from $0.47 to $0.48. For the next financial year, analysts expect that the company will post earnings of $0.50 per share, with EPS estimates ranging from $0.47 to $0.52. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow First BanCorp..
First BanCorp. (NYSE:FBP) last issued its earnings results on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The business had revenue of $144.45 million during the quarter, compared to the consensus estimate of $145.55 million. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. During the same period in the previous year, the company posted $0.10 earnings per share.
A number of research firms have recently commented on FBP. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research note on Tuesday, August 1st. BidaskClub cut First BanCorp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th.
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In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP lifted its stake in shares of First BanCorp. by 25.0% in the 1st quarter. Brandes Investment Partners LP now owns 19,506 shares of the bank’s stock valued at $110,000 after purchasing an additional 3,902 shares during the period. Bank of Montreal Can lifted its stake in shares of First BanCorp. by 1.6% in the 1st quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock valued at $112,000 after purchasing an additional 316 shares during the period. Amalgamated Bank lifted its stake in shares of First BanCorp. by 36.3% in the 2nd quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock valued at $130,000 after purchasing an additional 5,989 shares during the period. LS Investment Advisors LLC lifted its stake in shares of First BanCorp. by 444.6% in the 1st quarter. LS Investment Advisors LLC now owns 25,674 shares of the bank’s stock valued at $145,000 after purchasing an additional 20,960 shares during the period. Finally, Pacad Investment Ltd. lifted its stake in shares of First BanCorp. by 63.7% in the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock valued at $149,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 91.05% of the company’s stock.
Shares of First BanCorp. (FBP) traded up 0.54% during midday trading on Tuesday, reaching $5.58. The company’s stock had a trading volume of 1,488,824 shares. First BanCorp. has a 12-month low of $4.71 and a 12-month high of $7.05. The company has a market capitalization of $1.19 billion, a P/E ratio of 12.13 and a beta of 2.02. The company’s 50-day moving average price is $5.65 and its 200 day moving average price is $5.69.
First BanCorp. Company Profile
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