First Bancorp Puerto Rico (NYSE:FBP) Buy Rating Reaffirmed Today By KBW; The Target is $7.5

December 8, 2017 - By Hazel Jackson

 First Bancorp Puerto Rico (NYSE:FBP) Buy Rating Reaffirmed Today By KBW; The Target is $7.5

Investors sentiment decreased to 1.63 in Q2 2017. Its down 0.11, from 1.74 in 2017Q1. It dropped, as 23 investors sold First Bancorp shares while 37 reduced holdings. 27 funds opened positions while 71 raised stakes. 196.07 million shares or 6.75% more from 183.66 million shares in 2017Q1 were reported.

Piedmont Invest Advsrs Limited Liability reported 34,448 shares. Sei Investments accumulated 2,924 shares. Parkside Bank Tru accumulated 39 shares or 0% of the stock. Geode Capital Mgmt Limited Company stated it has 0.01% in First Bancorp (NYSE:FBP). Teacher Retirement Of Texas holds 13,158 shares or 0% of its portfolio. The New York-based Bnp Paribas Arbitrage has invested 0% in First Bancorp (NYSE:FBP). State Of Alaska Department Of Revenue reported 31,046 shares stake. Amalgamated Natl Bank invested in 22,481 shares. Brandes Prtn Ltd Partnership has 0% invested in First Bancorp (NYSE:FBP) for 19,506 shares. Manufacturers Life The owns 127,884 shares or 0% of their US portfolio. Engineers Gate Manager Lp owns 169,480 shares. Wellington Gru Llp holds 10.91M shares. Bancorporation Of America Corporation De holds 0% or 298,583 shares in its portfolio. Goldman Sachs Grp invested 0% in First Bancorp (NYSE:FBP). Metropolitan Life New York reported 0% of its portfolio in First Bancorp (NYSE:FBP).

First Bancorp Puerto Rico (NYSE:FBP) Rating Reaffirmed

KBW now has a $7.5 target price per share on the $1.09B market cap company or 48.81 % upside potential. In a report sent to investors on Wednesday, 4 October, First Bancorp Puerto Rico (NYSE:FBP) shares have had their Buy Rating reaffirmed by stock analysts at KBW.

Investors sentiment decreased to 1.63 in Q2 2017. Its down 0.11, from 1.74 in 2017Q1. It dropped, as 23 investors sold First Bancorp shares while 37 reduced holdings. 27 funds opened positions while 71 raised stakes. 196.07 million shares or 6.75% more from 183.66 million shares in 2017Q1 were reported.

Piedmont Invest Advsrs Limited Liability reported 34,448 shares. Sei Investments accumulated 2,924 shares. Parkside Bank Tru accumulated 39 shares or 0% of the stock. Geode Capital Mgmt Limited Company stated it has 0.01% in First Bancorp (NYSE:FBP). Teacher Retirement Of Texas holds 13,158 shares or 0% of its portfolio. The New York-based Bnp Paribas Arbitrage has invested 0% in First Bancorp (NYSE:FBP). State Of Alaska Department Of Revenue reported 31,046 shares stake. Amalgamated Natl Bank invested in 22,481 shares. Brandes Prtn Ltd Partnership has 0% invested in First Bancorp (NYSE:FBP) for 19,506 shares. Manufacturers Life The owns 127,884 shares or 0% of their US portfolio. Engineers Gate Manager Lp owns 169,480 shares. Wellington Gru Llp holds 10.91M shares. Bancorporation Of America Corporation De holds 0% or 298,583 shares in its portfolio. Goldman Sachs Grp invested 0% in First Bancorp (NYSE:FBP). Metropolitan Life New York reported 0% of its portfolio in First Bancorp (NYSE:FBP).

First Bancorp (NYSE:FBP) Ratings Coverage

Among 6 analysts covering First Bancorp (NYSE:FBP), 3 have Buy rating, 0 Sell and 3 Hold. Therefore 50% are positive. First Bancorp has $20 highest and $6 lowest target. $9.55’s average target is 89.48% above currents $5.04 stock price. First Bancorp had 10 analyst reports since July 27, 2015 according to SRatingsIntel. Piper Jaffray maintained First Bancorp (NYSE:FBP) on Friday, October 6 with “Buy” rating. The firm has “Buy” rating given on Monday, July 27 by Guggenheim. The firm earned “Neutral” rating on Monday, November 20 by Citigroup. Keefe Bruyette & Woods maintained it with “Outperform” rating and $6.50 target in Wednesday, October 14 report. The company was initiated on Wednesday, February 8 by Citigroup. The rating was initiated by Piper Jaffray with “Overweight” on Friday, April 8. As per Wednesday, November 8, the company rating was maintained by Bank of America. Keefe Bruyette & Woods maintained it with “Buy” rating and $6.75 target in Friday, November 10 report. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Wednesday, October 4.

The stock increased 0.40% or $0.02 during the last trading session, reaching $5.04. About 1.51 million shares traded. First Bancorp (NYSE:FBP) has risen 32.84% since December 8, 2016 and is uptrending. It has outperformed by 16.14% the S&P500.

Analysts await First Bancorp (NYSE:FBP) to report earnings on January, 25. They expect $0.09 EPS, down 18.18 % or $0.02 from last year’s $0.11 per share. FBP’s profit will be $19.46 million for 14.00 P/E if the $0.09 EPS becomes a reality. After $0.13 actual EPS reported by First Bancorp for the previous quarter, Wall Street now forecasts -30.77 % negative EPS growth.

First BanCorp. operates as the bank holding firm for FirstBank Puerto Rico that provides a range of financial services and products to retail, commercial, and institutional clients. The company has market cap of $1.09 billion. The Company’s Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings, as well as cash and business management services; and underwrites municipal securities, and other investment banking services. It has a 16.8 P/E ratio. The companyÂ’s Consumer Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leasing and insurance activities.

More recent First Bancorp (NYSE:FBP) news were published by: Globenewswire.com which released: “FIRST BANK HELPS TWO FAMILIES MAKE THEIR DREAMS COME TRUE” on December 05, 2017. Also Nasdaq.com published the news titled: “The Zacks Analyst Blog Highlights: First Financial Bancorp, Eagle Bancorp …” on November 30, 2017. Seekingalpha.com‘s news article titled: “First National Bancorp: Discounted Multiple, Comparable Growth, Higher Yield” with publication date: December 07, 2017 was also an interesting one.

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