First BanCorp (NYSE:FBP) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 687 call options on the company. This is an increase of approximately 781% compared to the average volume of 78 call options.

FBP has been the topic of a number of recent analyst reports. Zacks Investment Research cut First BanCorp from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Piper Jaffray reaffirmed a “buy” rating and set a $8.00 price target on shares of First BanCorp in a report on Monday, January 29th. ValuEngine raised First BanCorp from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Citigroup lifted their price target on First BanCorp from $7.00 to $9.00 and gave the company a “buy” rating in a report on Monday, April 30th. Finally, Merion Capital Group reaffirmed a “neutral” rating on shares of First BanCorp in a report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.75.

FBP opened at $7.85 on Thursday. The company has a market cap of $1.65 billion, a PE ratio of 15.68 and a beta of 1.77. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.49. First BanCorp has a twelve month low of $7.74 and a twelve month high of $7.83.

First BanCorp (NYSE:FBP) last released its quarterly earnings results on Friday, April 27th. The bank reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. The company had revenue of $147.48 million for the quarter, compared to analysts’ expectations of $139.70 million. First BanCorp had a return on equity of 6.26% and a net margin of 10.74%. During the same quarter in the previous year, the company posted $0.11 earnings per share. analysts anticipate that First BanCorp will post 0.57 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBP. Thrivent Financial For Lutherans increased its stake in shares of First BanCorp by 3.4% during the fourth quarter. Thrivent Financial For Lutherans now owns 3,529,245 shares of the bank’s stock valued at $17,999,000 after acquiring an additional 115,262 shares during the period. Penbrook Management LLC acquired a new position in shares of First BanCorp during the fourth quarter valued at approximately $609,000. Monashee Investment Management LLC acquired a new position in shares of First BanCorp during the fourth quarter valued at approximately $459,000. Citadel Advisors LLC increased its stake in shares of First BanCorp by 1,366.1% during the fourth quarter. Citadel Advisors LLC now owns 1,313,306 shares of the bank’s stock valued at $6,698,000 after acquiring an additional 1,223,728 shares during the period. Finally, Strs Ohio increased its stake in shares of First BanCorp by 8.3% during the fourth quarter. Strs Ohio now owns 172,000 shares of the bank’s stock valued at $877,000 after acquiring an additional 13,200 shares during the period. 91.61% of the stock is currently owned by institutional investors.

About First BanCorp

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.

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