First Bancorp (NYSE:FBP) saw unusually large options trading activity on Friday. Stock traders purchased 10,143 call options on the stock. This is an increase of 2,174% compared to the typical daily volume of 446 call options.

FBP has been the topic of several analyst reports. Zacks Investment Research raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup raised their target price on shares of First Bancorp from $6.00 to $7.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Finally, ValuEngine raised shares of First Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 1st.

FBP opened at $5.44 on Friday. The company’s 50 day simple moving average is $5.44 and its 200 day simple moving average is $6.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.98 and a current ratio of 0.93. First Bancorp has a 1 year low of $3.50 and a 1 year high of $11.10. The stock has a market capitalization of $1.19 billion, a PE ratio of 11.57, a P/E/G ratio of 2.64 and a beta of 1.48.

First Bancorp (NYSE:FBP) last released its earnings results on Tuesday, July 28th. The bank reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. First Bancorp had a net margin of 13.71% and a return on equity of 4.67%. The business had revenue of $156.10 million for the quarter, compared to analysts’ expectations of $156.97 million. During the same period last year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, sell-side analysts expect that First Bancorp will post 0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. X Square Capital LLC raised its holdings in First Bancorp by 14.5% in the first quarter. X Square Capital LLC now owns 1,743,160 shares of the bank’s stock valued at $9,274,000 after buying an additional 220,455 shares during the period. Invesco Ltd. raised its holdings in First Bancorp by 92.2% in the first quarter. Invesco Ltd. now owns 2,320,227 shares of the bank’s stock valued at $12,343,000 after buying an additional 1,112,985 shares during the period. State Street Corp raised its holdings in First Bancorp by 3.7% in the first quarter. State Street Corp now owns 8,622,910 shares of the bank’s stock valued at $45,874,000 after buying an additional 310,462 shares during the period. Swiss National Bank raised its holdings in First Bancorp by 1.3% in the first quarter. Swiss National Bank now owns 421,600 shares of the bank’s stock valued at $2,243,000 after buying an additional 5,600 shares during the period. Finally, Geode Capital Management LLC raised its holdings in First Bancorp by 7.3% in the first quarter. Geode Capital Management LLC now owns 3,543,363 shares of the bank’s stock valued at $18,850,000 after buying an additional 239,547 shares during the period. Hedge funds and other institutional investors own 91.27% of the company’s stock.

About First Bancorp

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.

See Also: Ex-Dividend

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