Brokerages Anticipate First BanCorp. (FBP) Will Announce Earnings of $0.06 Per Share

Equities research analysts expect that First BanCorp. (NYSE:FBP) will report earnings of $0.06 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for First BanCorp.’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. First BanCorp. reported earnings of $0.11 per share during the same quarter last year, which would indicate a negative year over year growth rate of 45.5%. The business is expected to report its next quarterly earnings results on Thursday, January 25th.

On average, analysts expect that First BanCorp. will report full year earnings of $0.25 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.25. For the next year, analysts anticipate that the business will report earnings of $0.40 per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover First BanCorp..

FBP has been the subject of a number of research reports. Zacks Investment Research upgraded First BanCorp. from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research report on Thursday, October 12th. ValuEngine upgraded First BanCorp. from a “hold” rating to a “buy” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a “buy” rating and set a $7.50 price objective on shares of First BanCorp. in a research report on Friday, November 10th. TheStreet lowered First BanCorp. from a “b-” rating to a “c” rating in a report on Tuesday, November 7th. Finally, Citigroup reduced their price target on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Monday, November 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $6.50.

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank increased its position in First BanCorp. by 36.3% in the 2nd quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after buying an additional 5,989 shares during the period. Bank of Montreal Can increased its position in First BanCorp. by 21.5% in the 2nd quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock worth $139,000 after buying an additional 4,256 shares during the period. Pacad Investment Ltd. increased its position in First BanCorp. by 63.7% in the 2nd quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after buying an additional 10,000 shares during the period. LS Investment Advisors LLC grew its holdings in shares of First BanCorp. by 1.4% during the 2nd quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock worth $151,000 after purchasing an additional 370 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in shares of First BanCorp. by 15.2% during the 2nd quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock worth $178,000 after purchasing an additional 4,052 shares in the last quarter. 90.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of First BanCorp. (NYSE:FBP) traded up $0.02 during midday trading on Thursday, reaching $5.02. The company’s stock had a trading volume of 1,739,600 shares, compared to its average volume of 1,598,776. First BanCorp. has a 12-month low of $4.48 and a 12-month high of $7.05. The firm has a market cap of $1,080.88, a price-to-earnings ratio of 10.42, a PEG ratio of 2.69 and a beta of 1.92. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03.

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