First BanCorp. (FBP) Looks Ready for Growth Despite 25.16% Change This Year

First BanCorp. (NYSE: FBP) is 25.16% higher on its value in year-to-date trading and has touched a low of $4.30 and a high of $12.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FBP stock was last observed hovering at around $11.74 in the last trading session, with the day’s loss setting it -0.2% off its average median price target of $13.00 for the next 12 months. It is also 17.57% off the consensus price target high of $14.00 offered by 4 analysts, but current levels are 3.83% higher than the price target low of $12.00 for the same period.

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Currently trading at $11.54, the stock is 1.00% and 3.24% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.62 million and changing -1.70% at the moment leaves the stock 41.54% off its SMA200. FBP registered 124.51% gain for a year compared to 6-month gain of 83.17%. The firm has a 50-day simple moving average (SMA 50) of $11.51 and a 200-day simple moving average (SMA200) of $9.34.

The stock witnessed a 4.91% loss in the last 1 month and extending the period to 3 months gives it a 16.92%, and is -2.12% down 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 3.76% over the week and 3.20% over the month.

First BanCorp. (FBP) has around 3317 employees, a market worth around $2.48B and $693.00M in sales. Current P/E ratio is 25.25 and Fwd P/E is 9.83. Profit margin for the company is 14.40%. Distance from 52-week low is 168.37% and -8.34% from its 52-week high. The company has generated returns on investments over the last 12 months (17.10%).

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 07/27/2021 and quarterly earnings per share for the current quarter are estimated at $0.24 with sales reaching $179.48M over the same period.The EPS is expected to shrink by -39.70% this year, but quarterly earnings will post 21.90% year-over-year. Quarterly sales are estimated to grow 27.60% in year-over-year returns.

First BanCorp. (FBP) Top Institutional Holders

306 institutions hold shares in First BanCorp. (FBP), with 3.69M shares held by insiders accounting for 1.70% while institutional investors hold 94.70% of the company’s shares. The shares outstanding are 216.99M, and float is at 214.25M with Short Float at 3.99%. Institutions hold 93.09% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 31.14 million shares valued at $287.07 million. The investor’s holdings represent 14.26% of the FBP Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 23.27 million shares valued at $214.54 million to account for 10.66% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 17.43 million shares representing 7.98% and valued at over $160.73 million, while State Street Corporation holds 4.15% of the shares totaling 9.06 million with a market value of $83.49 million.

First BanCorp. (FBP) Insider Activity

A total of 59 insider transactions have happened at First BanCorp. (FBP) in the last six months, with sales accounting for 40 and purchases happening 19 times. The most recent transaction is an insider purchase by Heffern John A., the company’s Director. SEC filings show that Heffern John A. bought 258 shares of the company’s common stock on Mar 10 at a price of $11.20 per share for a total of $2891.0. Following the purchase, the insider now owns 71343.0 shares.

First BanCorp. disclosed in a document filed with the SEC on Mar 08 that Odell Lawrence (EVP and General Counsel) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Mar 08 and was made at $11.30 per share for $0.23 million. Following the transaction, the insider now directly holds 0.19 million shares of the FBP stock.

Still, SEC filings show that on Mar 05, PANCHAM CASSAN (EVP) disposed off 108,000 shares at an average price of $11.10 for $1.2 million. The insider now directly holds 216,644 shares of First BanCorp. (FBP).

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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 63.13% up over the past 12 months. Northwest Bancshares Inc. (NWBI) is 36.27% up on the 1-year trading charts. Short interest in the company’s stock has fallen -33.54% from the last report on Mar 30, 2021 to stand at a total of 8.56 million short shares sold with a short interest ratio of 3.35.

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