Positive Press Coverage Somewhat Unlikely to Affect First Bancorp (FBP) Share Price
Media headlines about First Bancorp (NYSE:FBP) have been trending positive recently, Accern Sentiment reports. The research firm identifies negative and positive media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. First Bancorp earned a media sentiment score of 0.33 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 45.1734944940777 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of First Bancorp from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Tuesday, January 16th. ValuEngine raised shares of First Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Bank of America reduced their price objective on shares of First Bancorp from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $6.60.
Shares of First Bancorp (NYSE FBP) opened at $5.46 on Friday. First Bancorp has a 1-year low of $4.48 and a 1-year high of $7.02. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $1,180.32, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.93 and a beta of 1.93.
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First Bancorp Company Profile
First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services.
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