First BanCorp. (NYSE:FBP) Downgraded by BidaskClub to Strong Sell
BidaskClub cut shares of First BanCorp. (NYSE:FBP) from a sell rating to a strong sell rating in a research report report published on Thursday.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded First BanCorp. from a hold rating to a buy rating and set a $6.50 price target on the stock in a research report on Monday, June 19th. Keefe, Bruyette & Woods reiterated a buy rating and set a $7.50 price target on shares of First BanCorp. in a research report on Wednesday, April 5th. One equities research 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. The stock currently has an average rating of Hold and an average target price of $7.00.
First BanCorp. (NYSE FBP) traded down 2.076% during mid-day trading on Thursday, reaching $5.895. The company’s stock had a trading volume of 255,397 shares. The firm has a market capitalization of $1.26 billion, a P/E ratio of 12.815 and a beta of 2.00. The firm’s 50 day moving average price is $5.82 and its 200 day moving average price is $5.94. First BanCorp. has a 52 week low of $4.28 and a 52 week high of $7.05.
First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. The company had revenue of $144.45 million for the quarter, compared to analysts’ expectations of $145.55 million. During the same period last year, the firm earned $0.10 EPS. On average, analysts anticipate that First BanCorp. will post $0.45 EPS for the current fiscal year.
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In other news, EVP Nayda Rivera sold 26,081 shares of First BanCorp. stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $6.05, for a total transaction of $157,790.05. Following the transaction, the executive vice president now directly owns 446,014 shares in the company, valued at approximately $2,698,384.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.10% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its position in shares of First BanCorp. by 0.4% in the first quarter. Acrospire Investment Management LLC now owns 29,132 shares of the bank’s stock valued at $165,000 after buying an additional 117 shares during the period. Louisiana State Employees Retirement System boosted its position 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 worth $371,000 after buying an additional 200 shares during the last quarter. Bank of Montreal Can boosted its position in shares of First BanCorp. by 1.6% in the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after buying an additional 316 shares during the last quarter. LS Investment Advisors LLC boosted its position 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 worth $151,000 after buying an additional 370 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in shares of First BanCorp. by 1.7% in the first quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock worth $150,000 after buying an additional 436 shares during the last quarter. Institutional investors own 84.95% of the company’s stock.
First BanCorp. Company Profile
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