First BanCorp. (NYSE: FBP) growth is a big Buy opportunity

First BanCorp. (NYSE: FBP) is -12.94% lower on its value in year-to-date trading and has touched a low of $3.50 and a high of $10.69 in the current 52-week trading range. The FBP stock was last observed hovering at around $9.11 in the last trading session, with the day’s gains setting it 0.11% off its average median price target of $10.25 for the next 12 months. It is also 16.18% off the consensus price target high of $11.00 offered by 4 analysts, but current levels are -2.44% lower than the price target low of $9.00 for the same period.

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Currently trading at $9.22, the stock is 4.32% and 15.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.94 million and changing 1.21% at the moment leaves the stock 50.93% off its SMA200. FBP registered -12.52% loss for a year compared to 6-month gain of 72.34%. The firm has a 50-day simple moving average (SMA 50) of $8.63 and a 200-day simple moving average (SMA200) of $6.51.

The stock witnessed a 13.27% loss in the last 1 month and extending the period to 3 months gives it a 72.66%, and is 0.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.94% over the week and 3.23% over the month.

First BanCorp. (FBP) has around 2674 employees, a market worth around $1.99B and $661.90M in sales. Current P/E ratio is 23.34 and Fwd P/E is 9.83. Profit margin for the company is 13.00%. Distance from 52-week low is 163.43% and -13.71% from its 52-week high. The company has generated returns on investments over the last 12 months (19.10%).

First BanCorp. (FBP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for First BanCorp. (FBP) is a “Overweight”. 4 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

First BanCorp. is expected to release its quarterly report on 04/28/2021 and quarterly earnings per share for the current quarter are estimated at $0.21 with sales reaching $177.47M over the same period.The EPS is expected to shrink by -17.40% this year, but quarterly earnings will post 13.90% year-over-year. Quarterly sales are estimated to grow 35.00% in year-over-year returns.

First BanCorp. (FBP) Top Institutional Holders

293 institutions hold shares in First BanCorp. (FBP), with 3.94M shares held by insiders accounting for 1.82% while institutional investors hold 91.17% of the company’s shares. The shares outstanding are 216.92M, and float is at 214.26M with Short Float at 1.90%. Institutions hold 89.51% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 31.63 million shares valued at $165.09 million. The investor’s holdings represent 14.49% of the FBP Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 22.65 million shares valued at $118.22 million to account for 10.38% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 17.61 million shares representing 8.07% and valued at over $91.93 million, while State Street Corporation holds 3.81% of the shares totaling 8.3 million with a market value of $43.35 million.

First BanCorp. (FBP) Insider Activity

The most recent transaction is an insider purchase by Frye Daniel Edward, the company’s Director. SEC filings show that Frye Daniel Edward bought 27 shares of the company’s common stock on Mar 13 at a price of $6.14 per share for a total of $167.0. Following the purchase, the insider now owns 13169.0 shares.

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First BanCorp. (FBP): Who are the competitors?

The company’s main competitors (and peers) include Bank of the James Financial Group Inc. (BOTJ) that is trading -18.60% down over the past 12 months. Northwest Bancshares Inc. (NWBI) is -22.74% down on the 1-year trading charts. Short interest in the company’s stock has risen 39.41% from the last report on Nov 12, 2020 to stand at a total of 2.46 million short shares sold with a short interest ratio of 2.52.

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