First Bancorp (NYSE:FBP) shot up 5.4% during trading on Friday . The company traded as high as $4.72 and last traded at $4.69, with a volume of 281,759 shares changing hands. The stock had previously closed at $4.45.

A number of brokerages recently commented on FBP. Zacks Investment Research upgraded shares of First Bancorp from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, July 12th. TheStreet upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Finally, Piper Jaffray Cos. began coverage on shares of First Bancorp in a research report on Friday, April 8th. They issued an “overweight” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $8.40.

The stock’s 50 day moving average price is $4.23 and its 200-day moving average price is $3.34. The company has a market capitalization of $997.26 million and a P/E ratio of 52.11.

First Bancorp (NYSE:FBP) last issued its earnings results on Monday, April 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. During the same quarter last year, the business posted $0.12 earnings per share. Analysts anticipate that First Bancorp will post $0.42 earnings per share for the current year.

Several large investors have made changes to their positions in the stock. California Public Employees Retirement System increased its stake 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 in the last quarter. First Trust Advisors LP increased its stake 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 in the last quarter. Russell Frank Co increased its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 in 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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