Shares of First Bancorp (NYSE:FBP) have earned a consensus rating of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.00.

FBP has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Tuesday, January 16th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, October 3rd. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, December 21st. Bank of America dropped their price target on shares of First Bancorp from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Finally, TheStreet cut shares of First Bancorp from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th.

A number of institutional investors and hedge funds have recently made changes to their positions in FBP. Schwab Charles Investment Management Inc. lifted its holdings in First Bancorp by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,975,796 shares of the bank’s stock valued at $11,440,000 after buying an additional 80,179 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in First Bancorp by 2.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,242,829 shares of the bank’s stock valued at $7,196,000 after buying an additional 27,262 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in First Bancorp by 9.3% during the 2nd quarter. Wells Fargo & Company MN now owns 127,095 shares of the bank’s stock valued at $735,000 after buying an additional 10,778 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in First Bancorp by 79.7% during the 2nd quarter. Alliancebernstein L.P. now owns 233,400 shares of the bank’s stock valued at $1,351,000 after buying an additional 103,500 shares in the last quarter. Finally, Teachers Advisors LLC lifted its holdings in First Bancorp by 206.0% during the 2nd quarter. Teachers Advisors LLC now owns 2,024,376 shares of the bank’s stock valued at $11,721,000 after buying an additional 1,362,726 shares in the last quarter. Institutional investors own 90.29% of the company’s stock.

First Bancorp (NYSE FBP) opened at $5.46 on Monday. First Bancorp has a 52 week low of $4.48 and a 52 week high of $7.02. 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 company has a market cap of $1,180.00, a PE ratio of 18.20, a P/E/G ratio of 0.93 and a beta of 1.93.

First Bancorp (NYSE:FBP) last released its quarterly earnings results on Monday, November 6th. The bank reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. First Bancorp had a net margin of 9.83% and a return on equity of 5.71%. analysts predict that First Bancorp will post 0.25 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “First Bancorp (FBP) Given Consensus Rating of “Hold” by Analysts” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.watchlistnews.com/first-bancorp-fbp-given-consensus-rating-of-hold-by-analysts/1817363.html.

First Bancorp Company Profile

First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services.

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.