First Bancorp (NYSE:FBP) shares saw strong trading volume on Tuesday . 4,942,948 shares were traded during trading, an increase of 228% from the previous session’s volume of 1,508,919 shares.The stock last traded at $10.69 and had previously closed at $10.56.
Several equities research analysts recently commented on the stock. ValuEngine lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered shares of First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. First Bancorp currently has a consensus rating of “Buy” and a consensus target price of $10.88.
The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $2.29 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.52.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Loomis Sayles & Co. L P acquired a new position in First Bancorp in the first quarter valued at $26,000. Toronto Dominion Bank purchased a new stake in shares of First Bancorp in the first quarter valued at about $40,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of First Bancorp in the fourth quarter valued at about $65,000. Brandywine Oak Private Wealth LLC purchased a new stake in shares of First Bancorp in the first quarter valued at about $116,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of First Bancorp in the first quarter valued at about $119,000. Institutional investors own 90.62% of the company’s stock.
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First Bancorp Company Profile (NYSE:FBP)
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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