First BanCorp. (NYSE:FBP) PT Raised to $21.00

First BanCorp. (NYSE:FBP) had its price target increased by analysts at Keefe, Bruyette & Woods from $19.00 to $21.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 20.34% from the stock’s current price.

Separately, Wells Fargo & Company raised their target price on First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th.

First BanCorp. Stock Down 1.4 %

Shares of FBP traded down $0.25 during trading hours on Thursday, reaching $17.45. The company’s stock had a trading volume of 114,925 shares, compared to its average volume of 1,113,733. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 1.55 and a beta of 1.16. First BanCorp. has a 1-year low of $10.18 and a 1-year high of $17.74. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $16.93 and a two-hundred day moving average of $15.93.

First BanCorp. (NYSE:FBP) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.06. The firm had revenue of $302.49 million during the quarter, compared to analysts’ expectations of $229.19 million. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, research analysts predict that First BanCorp. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Mcdonald sold 57,600 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $17.34, for a total transaction of $998,784.00. Following the completion of the sale, the executive vice president now directly owns 98,501 shares in the company, valued at approximately $1,708,007.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Aurelio Aleman sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total value of $858,500.00. Following the transaction, the chief executive officer now owns 1,126,325 shares in the company, valued at $19,339,000.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Mcdonald sold 57,600 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $17.34, for a total value of $998,784.00. Following the completion of the transaction, the executive vice president now owns 98,501 shares in the company, valued at approximately $1,708,007.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,600 shares of company stock valued at $2,278,784. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On First BanCorp.

Large investors have recently made changes to their positions in the stock. Private Wealth Management Group LLC bought a new stake in First BanCorp. during the fourth quarter valued at $26,000. Neo Ivy Capital Management bought a new stake in shares of First BanCorp. in the 4th quarter valued at about $36,000. Strs Ohio raised its position in First BanCorp. by 206.3% during the 4th quarter. Strs Ohio now owns 4,900 shares of the bank’s stock valued at $80,000 after purchasing an additional 3,300 shares during the last quarter. Headlands Technologies LLC bought a new position in First BanCorp. during the 4th quarter valued at approximately $113,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in First BanCorp. during the 3rd quarter valued at approximately $138,000. 97.91% of the stock is owned by institutional investors.

First BanCorp. Company Profile

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.