First Bancorp (NYSE:FBP)’s share price shot up 3.2% during mid-day trading on Thursday . The company traded as high as $4.53 and last traded at $4.47, with a volume of 206,639 shares traded. The stock had previously closed at $4.33.

A number of brokerages have recently issued reports on FBP. Zacks Investment Research raised First Bancorp from a “sell” rating to a “hold” rating and set a $3.25 target price for the company in a research note on Wednesday, March 30th. TheStreet raised First Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. Finally, Piper Jaffray Cos. began coverage on First Bancorp in a research note on Friday, April 8th. They set an “overweight” rating and a $5.00 target price for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.40.

The stock has a market cap of $956.86 million and a price-to-earnings ratio of 50.00. The firm has a 50 day moving average price of $4.19 and a 200-day moving average price of $3.30.

First Bancorp (NYSE:FBP) last posted its quarterly earnings results on Monday, April 25th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. During the same period last year, the company earned $0.12 earnings per share. On average, equities analysts expect that First Bancorp will post $0.42 earnings per share for the current year.

A number of institutional investors recently modified their holdings of the stock. Russell Frank Co increased its position in shares of 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. First Trust Advisors LP increased its position in shares of 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. California Public Employees Retirement System increased its position in shares of 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. Wells Fargo & Company MN increased its position in shares of 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. Finally, Dimensional Fund Advisors LP increased its position in shares of 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.