First BanCorp.’s (FBP) “Buy” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies reiterated their buy rating on shares of First BanCorp. (NYSE:FBP) in a report released on Friday morning. Piper Jaffray Companies currently has a $7.50 target price on the bank’s stock.

FBP has been the subject of several other reports. ValuEngine cut shares of First BanCorp. from a buy rating to a hold rating in a research note on Wednesday, September 27th. Zacks Investment Research cut shares of First BanCorp. from a hold rating to a sell rating in a research note on Friday. BidaskClub cut shares of First BanCorp. from a hold rating to a sell rating in a research note on Wednesday, July 19th. TheStreet cut shares of First BanCorp. from a b- rating to a c rating in a research note on Tuesday, November 7th. Finally, Bank of America Corporation cut their target price on shares of First BanCorp. from $7.00 to $6.00 and set a neutral rating for the company in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $6.70.

Shares of First BanCorp. (NYSE:FBP) opened at $4.77 on Friday. The company has a market cap of $1,031.15, a price-to-earnings ratio of 9.94, a PEG ratio of 1.75 and a beta of 1.96. First BanCorp. has a 52-week low of $4.61 and a 52-week high of $7.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.03.

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Large investors have recently modified their holdings of the business. Amalgamated Bank grew its stake in shares of First BanCorp. by 36.3% in the 2nd quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after buying an additional 5,989 shares in the last quarter. Bank of Montreal Can grew its stake in shares of First BanCorp. by 21.5% in the 2nd quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock worth $139,000 after buying an additional 4,256 shares in the last quarter. Pacad Investment Ltd. grew its stake in shares of First BanCorp. by 63.7% in the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after buying an additional 10,000 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of First BanCorp. by 1.4% in the 2nd quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock worth $151,000 after buying an additional 370 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of First BanCorp. by 15.2% in the 2nd quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock worth $178,000 after buying an additional 4,052 shares in the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.

First BanCorp. Company Profile

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