First BanCorp. (FBP) Trading Down 6.4%
First BanCorp. (NYSE:FBP)’s share price fell 6.4% during mid-day trading on Tuesday . The stock traded as low as $5.37 and last traded at $5.37. 1,471,003 shares were traded during mid-day trading, an increase of 11% from the average session volume of 1,330,660 shares. The stock had previously closed at $5.74.
Several brokerages have issued reports on FBP. BidaskClub raised First BanCorp. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised First BanCorp. from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, August 1st.
The firm has a market cap of $1.15 billion, a PE ratio of 11.67 and a beta of 2.02. The stock’s 50-day moving average is $5.75 and its 200 day moving average is $5.75.
First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Friday, July 28th. The bank reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The firm had revenue of $144.45 million for the quarter, compared to analyst estimates of $145.55 million. First BanCorp. had a return on equity of 5.57% and a net margin of 15.17%. During the same period last year, the company earned $0.10 EPS. On average, equities research analysts anticipate that First BanCorp. will post $0.47 EPS for the current year.
In other news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of First BanCorp. stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.66, for a total value of $56,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 21.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FBP. Teachers Advisors LLC lifted its stake in shares of First BanCorp. by 114.1% in the 4th quarter. Teachers Advisors LLC now owns 575,716 shares of the bank’s stock valued at $3,805,000 after purchasing an additional 306,824 shares during the period. Bank of Montreal Can lifted its stake in shares of First BanCorp. by 1.6% in the 1st quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock valued at $112,000 after purchasing an additional 316 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of First BanCorp. by 17.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 63,800 shares of the bank’s stock valued at $360,000 after purchasing an additional 9,600 shares during the period. Profund Advisors LLC lifted its stake in shares of First BanCorp. by 1.7% in the 1st quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock valued at $150,000 after purchasing an additional 436 shares during the period. Finally, Strs Ohio lifted its stake in shares of First BanCorp. by 5.3% in the 1st quarter. Strs Ohio now owns 136,100 shares of the bank’s stock valued at $768,000 after purchasing an additional 6,900 shares during the period. Institutional investors own 91.05% of the company’s stock.
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About First BanCorp.
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