Brokerages Anticipate First Bancorp (FBP) to Announce $0.08 EPS

Equities analysts expect First Bancorp (NYSE:FBP) to post earnings of $0.08 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for First Bancorp’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.09. First Bancorp reported earnings per share of $0.11 in the same quarter last year, which indicates a negative year over year growth rate of 27.3%. The company is expected to announce its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that First Bancorp will report full year earnings of $0.42 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.43. For the next fiscal year, analysts forecast that the business will report earnings of $0.53 per share, with EPS estimates ranging from $0.50 to $0.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow First Bancorp.

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First Bancorp (NYSE:FBP) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.06. The firm had revenue of $137.22 million for the quarter, compared to analyst estimates of $137.80 million. First Bancorp had a net margin of 9.88% and a return on equity of 5.89%. During the same quarter in the previous year, the firm posted $0.11 EPS.

Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of First Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. ValuEngine raised shares of First Bancorp from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Citigroup raised shares of First Bancorp from a “neutral” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Piper Jaffray reissued a “buy” rating and issued a $8.00 price target on shares of First Bancorp in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.63.

First Bancorp stock traded up $0.31 on Thursday, hitting $6.74. The company’s stock had a trading volume of 1,885,692 shares, compared to its average volume of 1,938,537. The firm has a market capitalization of $1,377.69, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.54 and a beta of 1.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.00 and a quick ratio of 0.99. First Bancorp has a one year low of $4.48 and a one year high of $6.75.

Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of First Bancorp by 2.9% in the 4th quarter. BlackRock Inc. now owns 23,498,884 shares of the bank’s stock valued at $119,843,000 after purchasing an additional 654,894 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Bancorp by 7.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,713,522 shares of the bank’s stock worth $59,974,000 after buying an additional 860,841 shares in the last quarter. Point72 Asset Management L.P. lifted its position in First Bancorp by 194.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 5,630,900 shares of the bank’s stock worth $28,830,000 after buying an additional 3,720,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in First Bancorp by 4.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,653,928 shares of the bank’s stock worth $18,708,000 after buying an additional 163,090 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its position in First Bancorp by 3.4% during the 4th quarter. Thrivent Financial For Lutherans now owns 3,529,245 shares of the bank’s stock worth $17,999,000 after buying an additional 115,262 shares in the last quarter. Institutional investors own 92.48% of the company’s stock.

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First Bancorp Company Profile

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

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