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Shares of First BanCorp. (NYSE:FBP – Get Free Report) have received an average rating of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $27.8750.
FBP has been the topic of a number of research analyst reports. Weiss Ratings upgraded First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 1st. Wells Fargo & Company raised their price target on First BanCorp. from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Piper Sandler lifted their price objective on First BanCorp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Keefe, Bruyette & Woods upped their price objective on First BanCorp. from $24.50 to $26.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Finally, Raymond James Financial upped their price objective on First BanCorp. from $27.00 to $32.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st.
Institutional Investors Weigh In On First BanCorp.
First BanCorp. Stock Performance
FBP opened at $27.59 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.73 and a beta of 0.82. The company has a fifty day moving average of $25.33 and a 200 day moving average of $23.20. First BanCorp. has a fifty-two week low of $19.16 and a fifty-two week high of $27.89.
First BanCorp. (NYSE:FBP – Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. First BanCorp. had a net margin of 28.31% and a return on equity of 17.51%. The business had revenue of $258.64 million for the quarter, compared to analysts’ expectations of $263.54 million. During the same quarter in the previous year, the company earned $0.47 EPS. As a group, sell-side analysts forecast that First BanCorp. will post 2.26 earnings per share for the current fiscal year.
First BanCorp. Company Profile
First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.
In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.
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