At the time of writing, First Bancorp PR [FBP] stock is trading at $16.98, up 2.23%. An important factor to consider is whether the stock is rising or falling in short-term value. The FBP shares have gain 2.78% over the last week, with a monthly amount drifted -2.58%, and not seem to be holding up well over a long-time horizon.
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On 8, February 2024, First BanCorp. Increases Quarterly Cash Dividend on Common Stock to $0.16. In a post published today on Yahoo Finance, First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share, which represents an increase of 14% or $0.02 per common share compared to its most recent dividend paid in December 2023. The dividend is payable on March 8, 2024 to shareholders of record at the close of business on February 23, 2024.
From an analyst’s perspective:
First Bancorp PR [NYSE: FBP] stock has seen the most recent analyst activity on December 15, 2022, when Wells Fargo downgraded its rating to a Equal Weight and also revised its price target to $14 from $17. On December 20, 2021, Hovde Group initiated with a Outperform rating and assigned a price target of $17 on the stock. Wells Fargo started tracking the stock assigning a Overweight rating and suggested a price target of $16 on November 09, 2021. Citigroup downgraded its rating to a Neutral. BofA/Merrill upgraded its rating to Buy for this stock on September 20, 2018. In a note dated December 21, 2017, Citigroup upgraded an Buy rating on this stock.
For the past year, the stock price of First Bancorp PR fluctuated between $10.18 and $17.44. Currently, Wall Street analysts expect the stock to reach $14 within the next 12 months. First Bancorp PR [NYSE: FBP] shares were valued at $16.98 at the most recent close of the market. An investor can expect a potential drop of -17.55% based on the average FBP price forecast.
Analyzing the FBP fundamentals
According to First Bancorp PR [NYSE:FBP], the company’s sales were 1.15B for trailing twelve months, which represents an 3.25% jump. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.61%, Pretax Profit Margin comes in at 0.41%, and Net Profit Margin reading is 0.31%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.22 and Total Capital is 0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.44.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 16.81 points at the first support level, and at 16.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.11, and for the 2nd resistance point, it is at 17.23.
First Bancorp PR [FBP] reported earnings per share of $0.49 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.36/share, meaning a difference of $0.13 and a surprise factor of 36.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.46 per share as compared to estimates of $0.38 per share, a difference of $0.08 representing a surprise of 21.10%.
Ratios To Look Out For
It is important to note that First Bancorp PR [NYSE:FBP] has a current ratio of 0.14. Considering the valuation of this stock, the price to sales ratio is 2.54, the price to book ratio is 1.92 and price to earnings (TTM) ratio is 9.94.
Transactions by insiders
Recent insider trading involved McDonald Michael, EVP, that happened on Jan 30 when 57600.0 shares were sold. EVP, Power Carlos completed a deal on Dec 15 to sell 9433.0 shares. Meanwhile, President and CEO ALEMAN AURELIO sold 50000.0 shares on Dec 07.
