First BanCorp. (NYSE:FBP) Price Target Cut to $30.00 by Analysts at Wells Fargo & Company

Posted by Geri Gentry on Nov 9th, 2026

First BanCorp. (NYSE:FBP – Get Free Report) had its price objective dropped by equities researchers at Wells Fargo & Company from $32.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 14.89% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (a-)” rating on shares of First BanCorp. in a research report on Thursday, August 27th. Benchmark boosted their price target on First BanCorp. from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Zacks Research cut First BanCorp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Finally, Truist Financial raised their price target on First BanCorp. from $26.00 to $30.00 and gave the company a “buy” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, First BanCorp. currently has an average rating of “Moderate Buy” and an average price target of $29.57.

Read Our Latest Report on First BanCorp.

First BanCorp. Stock Performance

FBP opened at $26.11 on Monday. The business’s 50 day moving average is $27.16 and its 200-day moving average is $25.07. The stock has a market cap of $3.99 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11. First BanCorp. has a twelve month low of $19.28 and a twelve month high of $29.88.

First BanCorp. (NYSE:FBP – Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. First BanCorp. had a return on equity of 18.87% and a net margin of 28.67%. The business had revenue of $260.12 million during the quarter, compared to the consensus estimate of $274.32 million. On average, analysts predict that First BanCorp. will post 2.42 earnings per share for the current year.

Insider Activity

In other First BanCorp. news, EVP Nayda Rivera sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the sale, the executive vice president directly owned 230,398 shares of the company’s stock, valued at approximately $6,494,919.62. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roberto Herencia sold 26,350 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $28.48, for a total transaction of $750,448.00. Following the sale, the director directly owned 610,669 shares of the company’s stock, valued at $17,391,853.12. This represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 46,350 shares of company stock worth $1,328,248. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On First BanCorp.

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in First BanCorp. by 12.2% in the 1st quarter. First Trust Advisors LP now owns 4,862,288 shares of the bank’s stock valued at $103,858,000 after buying an additional 527,991 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in First BanCorp. by 48.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,661,695 shares of the bank’s stock worth $56,854,000 after buying an additional 871,860 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of First BanCorp. by 22.1% during the 1st quarter. Bank of America Corp DE now owns 1,630,778 shares of the bank’s stock valued at $34,833,000 after buying an additional 294,888 shares during the period. Principal Financial Group Inc. boosted its stake in shares of First BanCorp. by 5.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,021,220 shares of the bank’s stock valued at $21,813,000 after buying an additional 52,568 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in shares of First BanCorp. by 46.9% during the 1st quarter. Edgestream Partners L.P. now owns 607,965 shares of the bank’s stock valued at $12,986,000 after buying an additional 193,981 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.