First BanCorp. (NYSE:FBP) Price Target Raised to $26.00

First BanCorp. (NYSE:FBP) had its price objective hoisted by stock analysts at Wells Fargo & Company from $24.00 to $26.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 8.02% from the company’s current price.

FBP has been the topic of a number of other reports. Keefe, Bruyette & Woods lifted their target price on First BanCorp. from $24.00 to $24.50 and gave the stock a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First BanCorp. in a report on Tuesday. Piper Sandler reaffirmed a “neutral” rating and set a $25.00 target price on shares of First BanCorp. in a report on Thursday. Truist Financial set a $26.00 price target on First BanCorp. in a research note on Wednesday. Finally, Hovde Group lifted their price target on First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.42.

First BanCorp. Stock Performance

FBP stock traded up $0.40 during mid-day trading on Thursday, reaching $24.07. The company had a trading volume of 160,429 shares, compared to its average volume of 1,449,282. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.75 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.94 and a beta of 0.83. First BanCorp. has a one year low of $18.74 and a one year high of $24.14. The stock’s 50-day simple moving average is $21.75 and its two-hundred day simple moving average is $21.22.

First BanCorp. (NYSE:FBP) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $258.64 million for the quarter, compared to analysts’ expectations of $263.54 million. First BanCorp. had a return on equity of 17.33% and a net margin of 27.48%.During the same period last year, the business posted $0.47 earnings per share. Research analysts anticipate that First BanCorp. will post 2.17 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michael Mcdonald sold 34,122 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.11, for a total transaction of $754,437.42. Following the transaction, the executive vice president owned 62,937 shares in the company, valued at approximately $1,391,537.07. This trade represents a 35.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roberto R. Herencia sold 4,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $22.63, for a total value of $106,881.49. Following the completion of the sale, the director owned 637,019 shares of the company’s stock, valued at approximately $14,415,739.97. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First BanCorp.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in First BanCorp. by 4.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 13,013 shares of the bank’s stock worth $287,000 after purchasing an additional 508 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in First BanCorp. by 5.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the bank’s stock worth $234,000 after purchasing an additional 526 shares during the last quarter. California State Teachers Retirement System lifted its holdings in First BanCorp. by 0.4% in the 2nd quarter. California State Teachers Retirement System now owns 151,294 shares of the bank’s stock worth $3,151,000 after purchasing an additional 529 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in First BanCorp. by 4.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,217 shares of the bank’s stock worth $313,000 after purchasing an additional 557 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in First BanCorp. by 14.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 4,785 shares of the bank’s stock worth $106,000 after purchasing an additional 605 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting First BanCorp.

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Q1 EPS beat and profitability — First BanCorp. reported $0.57 EPS vs. the $0.52 consensus and $0.47 a year ago; return on equity was 17.3% and net margin 27.5%, which supports earnings momentum and investor confidence. MarketBeat Q1 Report
• Positive Sentiment: Dividend declared — Board approved a $0.20 quarterly dividend (3.4% yield on current levels), payable June 12 to holders of record May 28, which supports income-oriented investors and the share base. Seeking Alpha Dividend Article
• Neutral Sentiment: Call materials and analyst write-ups available — Management’s earnings call transcript and slide deck are posted (useful for detail on loan trends, deposit costs and credit outlook); some outlets highlight the beat while others focus on mixed metrics. Review the transcript for guidance color. Earnings Call Transcript
• Neutral Sentiment: Analyst notes are mixed — Coverage (Zacks, MSN) notes the EPS outperformance but provides varying takes on revenue and key metrics; this suggests analyst revisions could follow after management commentary. Zacks Earnings Note
• Negative Sentiment: Revenue missed estimates — Reported revenue was $258.6M vs. consensus ~$263.5M, a modest miss that could temper enthusiasm if it reflects slowing loan growth or fee income. Investors will watch management’s comments on topline drivers. MarketBeat Revenue Summary

About First BanCorp.

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.