First Bancorp (FBP) Sees Strong Trading Volume

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.

First Bancorp (NYSE:FBP) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $162.72 million during the quarter, compared to analyst estimates of $163.50 million. First Bancorp had a net margin of 28.97% and a return on equity of 7.43%. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, research analysts forecast that First Bancorp will post 0.76 EPS for the current fiscal year.

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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