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First BanCorp. (FBP) Is Now En Route to Higher Prices

First BanCorp. (NYSE: FBP) is -8.57% lower on its value in year-to-date trading and has touched a low of $10.18 and a high of $16.40 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FBP stock was last observed hovering at around $11.72 in the last trading session, with the day’s loss setting it -0.09% off its average median price target of $14.00 for the next 12 months. It is also 27.31% off the consensus price target high of $16.00 offered by analysts, but current levels are 6.96% higher than the price target low of $12.50 for the same period.

Currently trading at $11.63, the stock is 3.94% and 3.03% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.55 million and changing -0.77% at the moment leaves the stock -14.37% off its SMA200. FBP registered -14.55% loss for a year compared to 6-month loss of -22.16%.

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The stock witnessed a 2.56% gain in the last 1 month and extending the period to 3 months gives it a -19.12%, and is 6.70% 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 4.01% over the week and 4.09% over the month.

First BanCorp. (FBP) has around 3133 employees, a market worth around $2.13B and $907.20M in sales. Current P/E ratio is 7.43 and Fwd P/E is 7.70. Profit margin for the company is 32.30%. Distance from 52-week low is 14.24% and -29.09% from its 52-week high. The company has generated returns on investments over the last 12 months (41.40%).

First BanCorp. is expected to release its quarterly report on 07/26/2023.The EPS is expected to grow by 21.10% this year.

First BanCorp. (FBP) Top Institutional Holders

The shares outstanding are 180.22M, and float is at 177.14M with Short Float at 1.72%.

First BanCorp. (FBP) Insider Activity

A total of 60 insider transactions have happened at First BanCorp. (FBP) in the last six months, with sales accounting for 35 and purchases happening 25 times. The most recent transaction is an insider purchase by Heffern John A.,the company’sDirector. SEC filings show that Heffern John A. bought 3,000 shares of the company’s common stock on Mar 15 at a price of $11.61 per share for a total of $34827.0. Following the purchase, the insider now owns 84895.0 shares.

First BanCorp. disclosed in a document filed with the SEC on Mar 10 that Dedrick Tracey A (Director) bought a total of 500 shares of the company’s common stock. The trade occurred on Mar 10 and was made at $12.65 per share for $6325.0. Following the transaction, the insider now directly holds 25928.0 shares of the FBP stock.

Still, SEC filings show that on Nov 10, RIVERA NAYDA (EVP and CRO) disposed off 20,000 shares at an average price of $15.81 for $0.32 million. The insider now directly holds 231,948 shares of First BanCorp. (FBP).

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 -37.19% down over the past 12 months and Popular Inc. (BPOP) that is -21.63% lower over the same period. Northwest Bancshares Inc. (NWBI) is -12.29% down on the 1-year trading charts.

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