ValuEngine upgraded shares of First BanCorp. (NYSE:FBP) from a hold rating to a buy rating in a research report released on Tuesday morning.

FBP has been the subject of several other research reports. Zacks Investment Research cut shares of First BanCorp. from a buy rating to a hold rating in a research note on Monday, October 2nd. BidaskClub cut shares of First BanCorp. from a sell rating to a strong sell rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $7.00.

First BanCorp. (FBP) opened at 5.23 on Tuesday. First BanCorp. has a 12 month low of $4.78 and a 12 month high of $7.05. The firm has a market cap of $1.12 billion, a P/E ratio of 11.37 and a beta of 1.96. The firm has a 50 day moving average of $5.47 and a 200-day moving average of $5.63.

First BanCorp. (NYSE:FBP) last released its earnings results on Friday, July 28th. The bank reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. First BanCorp. had a net margin of 15.17% and a return on equity of 5.57%. The company had revenue of $144.45 million during the quarter, compared to analysts’ expectations of $145.55 million. During the same quarter last year, the business earned $0.10 EPS. On average, equities research analysts forecast that First BanCorp. will post $0.47 earnings per share for the current year.

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In other First BanCorp. news, insider Oaktree Fund Gp, Llc sold 10,000,000 shares of First BanCorp. stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $5.66, for a total transaction of $56,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FBP. Bank of Montreal Can raised its position in First BanCorp. by 1.6% during the first quarter. Bank of Montreal Can now owns 19,836 shares of the bank’s stock worth $112,000 after acquiring an additional 316 shares during the last quarter. Amalgamated Bank raised its position in First BanCorp. by 36.3% during the second quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after acquiring an additional 5,989 shares during the last quarter. Pacad Investment Ltd. raised its position in First BanCorp. by 63.7% during the second quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after acquiring an additional 10,000 shares during the last quarter. Profund Advisors LLC raised its position in First BanCorp. by 1.7% during the first quarter. Profund Advisors LLC now owns 26,609 shares of the bank’s stock worth $150,000 after acquiring an additional 436 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in First BanCorp. by 1.4% during the second quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock worth $151,000 after acquiring an additional 370 shares during the last quarter. Institutional investors own 91.05% of the company’s stock.

First BanCorp. Company Profile

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