First Bancorp (NYSE:FBP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday, ValuEngine reports.
Separately, Zacks Investment Research upgraded shares of First Bancorp from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Bancorp currently has an average rating of “Buy” and a consensus target price of $10.88.
Shares of First Bancorp stock traded down $0.19 on Wednesday, hitting $10.50. The stock had a trading volume of 1,926,931 shares, compared to its average volume of 1,514,784. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.01. First Bancorp has a one year low of $7.59 and a one year high of $11.94. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.02 and a beta of 1.52.
First Bancorp (NYSE:FBP) last issued its earnings results on Wednesday, April 24th. The bank reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). First Bancorp had a return on equity of 7.43% and a net margin of 28.97%. The firm had revenue of $162.72 million during the quarter, compared to the consensus estimate of $163.50 million. During the same quarter in the prior year, the business posted $0.15 EPS. As a group, equities research analysts forecast that First Bancorp will post 0.76 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Loomis Sayles & Co. L P purchased a new stake in First Bancorp in the first quarter worth $26,000. Toronto Dominion Bank purchased a new stake in First Bancorp in the first quarter worth $40,000. Oppenheimer Asset Management Inc. purchased a new stake in First Bancorp in the fourth quarter worth $65,000. Oregon Public Employees Retirement Fund purchased a new stake in First Bancorp in the fourth quarter worth $83,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in First Bancorp in the fourth quarter worth $101,000. 90.62% of the stock is owned by institutional investors.
First Bancorp Company Profile
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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