First Bancorp (FBP) Trading Down 1.8%
Shares of First Bancorp (NYSE:FBP) were down 1.8% during trading on Wednesday . The company traded as low as $4.28 and last traded at $4.34, with a volume of 424,184 shares. The stock had previously closed at $4.42.
FBP has been the subject of several recent analyst reports. TheStreet raised First Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 25th. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Tuesday, July 12th. Finally, Piper Jaffray Cos. initiated coverage on First Bancorp in a report on Friday, April 8th. They issued an “overweight” rating and a $5.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. First Bancorp has an average rating of “Hold” and a consensus price target of $9.13.
The firm’s 50-day moving average is $4.28 and its 200 day moving average is $3.44. The stock has a market capitalization of $925.54 million and a price-to-earnings ratio of 12.50.
First Bancorp (NYSE:FBP) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.10 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. During the same quarter in the previous year, the business earned ($0.16) earnings per share. On average, equities research analysts predict that First Bancorp will post $0.41 EPS for the current year.
A hedge fund recently raised its stake in First Bancorp stock. First Trust Advisors LP increased its stake in First Bancorp (NYSE:FBP) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 709,041 shares of the company’s stock after buying an additional 45,173 shares during the period. First Trust Advisors LP owned 0.33% of First Bancorp worth $2,304,000 as of its most recent SEC filing.
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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