Shares of First Bancorp (NYSE:FBP) rose 5.8% during trading on Friday . The company traded as high as $4.26 and last traded at $4.23, with a volume of 231,450 shares changing hands. The stock had previously closed at $4.00.

FBP has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of First Bancorp from a “sell” rating to a “hold” rating and set a $3.25 price target on the stock in a research report on Wednesday, March 30th. TheStreet raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Finally, Piper Jaffray Cos. initiated coverage on shares of First Bancorp in a research report on Friday, April 8th. They set an “overweight” rating and a $5.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Bancorp currently has a consensus rating of “Buy” and a consensus target price of $8.05.

The company has a market cap of $886.69 million and a P/E ratio of 46.33. The stock has a 50-day moving average price of $4.16 and a 200-day moving average price of $3.26.

First Bancorp (NYSE:FBP) last released its earnings results on Monday, April 25th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. During the same period in the prior year, the company posted $0.12 earnings per share. Equities analysts forecast that First Bancorp will post $0.42 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in FBP. Wells Fargo & Company MN increased its stake in First Bancorp by 53.8% in the fourth quarter. Wells Fargo & Company MN now owns 316,232 shares of the company’s stock worth $1,028,000 after buying an additional 110,619 shares during the last quarter. California Public Employees Retirement System increased its stake in First Bancorp by 6.7% in the fourth quarter. California Public Employees Retirement System now owns 689,700 shares of the company’s stock worth $2,242,000 after buying an additional 43,400 shares during the last quarter. First Trust Advisors LP increased its stake in First Bancorp by 6.8% in the fourth quarter. First Trust Advisors LP now owns 709,041 shares of the company’s stock worth $2,304,000 after buying an additional 45,173 shares during the last quarter. Russell Frank Co increased its stake in First Bancorp by 226.9% in the fourth quarter. Russell Frank Co now owns 1,645,325 shares of the company’s stock worth $5,397,000 after buying an additional 1,142,024 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in First Bancorp by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,041,116 shares of the company’s stock worth $16,384,000 after buying an additional 26,087 shares during the last quarter.

First BanCorp. is a financial holding company. The Company serves as the bank holding company for FirstBank Puerto Rico (FirstBank) and FirstBank Insurance Agency, Inc (FirstBank Insurance Agency). Through its wholly owned subsidiaries, the Company provides financial services and products with operations in Puerto Rico, the United States and the United States Virgin Islands and British Virgin Islands.

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