First Bancorp (NYSE:FBP) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $4.75 and last traded at $4.75, with a volume of 450,660 shares traded. The stock had previously closed at $4.66.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of First Bancorp from a “sell” rating to a “hold” rating and set a $3.25 target price for the company in a research report on Wednesday, March 30th. Piper Jaffray Cos. assumed coverage on shares of First Bancorp in a research report on Friday, April 8th. They set an “overweight” rating and a $5.00 target price for the company. Finally, TheStreet upgraded shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.40.

The company’s 50 day moving average is $4.25 and its 200 day moving average is $3.37. The firm has a market capitalization of $1.01 billion and a P/E ratio of 52.78.

First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. On average, equities analysts forecast that First Bancorp will post $0.42 earnings per share for the current fiscal year.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Russell Frank Co boosted 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 period. First Trust Advisors LP boosted 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 period. California Public Employees Retirement System boosted 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 period. Finally, Dimensional Fund Advisors LP boosted 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 period.

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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