It Seems First BanCorp. (FBP) Will Go Up. Just Reaches 52-Week High

May 17, 2018 - By Harriett Tippett

First BanCorp. (NYSE:FBP) Logo

Investors sentiment decreased to 0.99 in Q4 2017. Its down 1.50, from 2.49 in 2017Q3. It worsened, as 32 investors sold First BanCorp. shares while 51 reduced holdings. 28 funds opened positions while 54 raised stakes. 191.75 million shares or 0.33% more from 191.13 million shares in 2017Q3 were reported.
Penbrook Ltd Com reported 119,340 shares. New York-based Alliancebernstein Lp has invested 0% in First BanCorp. (NYSE:FBP). Parametric Portfolio Ltd Liability Corporation has 991,659 shares. Moreover, Hartford Inv Mngmt Communication has 0.06% invested in First BanCorp. (NYSE:FBP). Jacobs Levy Equity Mgmt holds 0.02% or 223,133 shares in its portfolio. First Republic Inv, a California-based fund reported 19,000 shares. Clover Prtn L P stated it has 1.34% of its portfolio in First BanCorp. (NYSE:FBP). Moore Cap Mngmt Ltd Partnership has invested 0.41% in First BanCorp. (NYSE:FBP). Los Angeles Management Equity Research holds 0.01% or 487,071 shares. Susquehanna Intl Gru Limited Liability Partnership holds 0% of its portfolio in First BanCorp. (NYSE:FBP) for 28,269 shares. Shelton Capital reported 15,550 shares. Pinebridge Lp has invested 0.02% in First BanCorp. (NYSE:FBP). Gsa Cap Prtnrs Llp holds 0% or 11,589 shares in its portfolio. Ellington Mgmt Group Limited Liability Corp accumulated 76,900 shares. Piedmont Inv Advsr Limited Liability Co has 37,772 shares.

The stock of First BanCorp. (NYSE:FBP) hit a new 52-week high and has $8.61 target or 9.00 % above today’s $7.90 share price. The 8 months bullish chart indicates low risk for the $1.71B company. The 1-year high was reported on May, 17 by Barchart.com. If the $8.61 price target is reached, the company will be worth $153.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.64% or $0.05 during the last trading session, reaching $7.9. About 1.25 million shares traded. First BanCorp. (NYSE:FBP) has risen 8.46% since May 17, 2017 and is uptrending. It has underperformed by 3.09% the S&P500.

Analysts await First BanCorp. (NYSE:FBP) to report earnings on July, 27. They expect $0.14 EPS, up 7.69 % or $0.01 from last year’s $0.13 per share. FBP’s profit will be $30.30M for 14.11 P/E if the $0.14 EPS becomes a reality. After $0.14 actual EPS reported by First BanCorp. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

First BanCorp. (NYSE:FBP) Ratings Coverage

Among 3 analysts covering First BanCorp (NYSE:FBP), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. First BanCorp has $9 highest and $6 lowest target. $8.50’s average target is 7.59% above currents $7.9 stock price. First BanCorp had 5 analyst reports since November 20, 2017 according to SRatingsIntel. The stock of First BanCorp. (NYSE:FBP) has “Neutral” rating given on Monday, November 20 by Citigroup. The stock has “Buy” rating by Piper Jaffray on Monday, January 29. The company was downgraded on Monday, April 30 by Merion Capital. Citigroup maintained First BanCorp. (NYSE:FBP) on Monday, April 30 with “Buy” rating. On Thursday, December 21 the stock rating was upgraded by Citigroup to “Buy”.

Another recent and important First BanCorp. (NYSE:FBP) news was published by Seekingalpha.com which published an article titled: “First BanCorp 2018 Q1 – Results – Earnings Call Slides” on April 27, 2018.

First BanCorp. operates as the bank holding firm for FirstBank Puerto Rico that provides a range of financial services and products to retail, commercial, and institutional clients. The company has market cap of $1.71 billion. The Company’s Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings, as well as cash and business management services; and underwrites municipal securities, and other investment banking services. It has a 26.33 P/E ratio. The company's Consumer Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leasing and insurance activities.

First BanCorp. (NYSE:FBP) Institutional Positions Chart

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