First BanCorp. (NYSE:FBP) PT Raised to $21.00 at Keefe, Bruyette & Woods

First BanCorp. (NYSE:FBP) had its price target raised by analysts at Keefe, Bruyette & Woods from $19.00 to $21.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 21.81% from the stock’s current price.

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

First BanCorp. Trading Down 1.9 %

Shares of FBP stock opened at $17.24 on Thursday. The company has a market capitalization of $2.92 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.16. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $16.95 and its two-hundred day moving average is $15.97. First BanCorp. has a twelve month low of $10.18 and a twelve month high of $17.74.

First BanCorp. (NYSE:FBP) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.06. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. The company had revenue of $302.49 million for the quarter, compared to analysts’ expectations of $229.19 million. During the same period in the previous year, the company posted $0.39 EPS. Equities analysts forecast that First BanCorp. will post 1.69 EPS for the current year.

Insiders Place Their Bets

In related news, Director Crespo Luz sold 10,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the sale, the director now owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Crespo Luz sold 10,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.47, for a total transaction of $164,700.00. Following the completion of the sale, the director now directly owns 50,055 shares of the company’s stock, valued at approximately $824,405.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Mcdonald sold 57,600 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $17.34, for a total value of $998,784.00. Following the sale, the executive vice president now owns 98,501 shares of the company’s stock, valued at $1,708,007.34. The disclosure for this sale can be found here. Insiders have sold a total of 132,600 shares of company stock valued at $2,278,784 over the last quarter. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On First BanCorp.

Hedge funds have recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new stake in shares of First BanCorp. in the 4th quarter valued at approximately $26,000. Neo Ivy Capital Management acquired a new position in First BanCorp. in the fourth quarter valued at approximately $36,000. Strs Ohio grew its holdings in shares of First BanCorp. by 206.3% during the fourth 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 stake in shares of First BanCorp. in the 4th quarter worth approximately $113,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in First BanCorp. during the 3rd quarter worth $138,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.