First BanCorp. (NYSE:FBP) Price Target Raised to $26.00

Key Points

• Analyst upgrades: Wells Fargo raised its price target on First BanCorp. from $24 to $26 and the stock carries a consensus "Moderate Buy" rating with an average target of $25.42, implying roughly 8% upside.
• Q1 results: First BanCorp. beat EPS expectations ($0.57 vs. $0.52) with strong profitability (ROE 17.33%, net margin 27.48%) but slightly missed revenue at $258.6M vs. ~$263.5M consensus.
• Shareholder return: The board declared a $0.20 quarterly dividend (about a 3.4% yield), supporting income-focused investors.

First BanCorp. (NYSE:FBP - Get Free Report) had its target price boosted by investment analysts at Wells Fargo & Company from $24.00 to $26.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price objective points to a potential upside of 8.02% from the stock's current price.

A number of other research analysts also recently commented on the stock. Hovde Group upped their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective on shares of First BanCorp. from $24.00 to $24.50 and gave the company a "market perform" rating in a research note on Wednesday, January 28th. Truist Financial set a $26.00 price objective on shares of First BanCorp. in a research note on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First BanCorp. in a research note on Tuesday. Finally, Piper Sandler reissued a "neutral" rating and set a $25.00 target price on shares of First BanCorp. in a research report on Thursday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.42.

First BanCorp. Trading Up 1.7%

Shares of FBP stock traded up $0.40 during mid-day trading on Thursday, hitting $24.07. 160,429 shares of the company's stock were exchanged, compared to its average volume of 1,449,282. First BanCorp. has a fifty-two week low of $18.74 and a fifty-two week high of $24.14. The stock has a 50-day simple moving average of $21.75 and a two-hundred day simple moving average of $21.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.94 and a beta of 0.83.

First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. First BanCorp. had a return on equity of 17.33% and a net margin of 27.48%.The business had revenue of $258.64 million for the quarter, compared to analysts' expectations of $263.54 million. During the same quarter last year, the firm earned $0.47 earnings per share. Equities analysts expect that First BanCorp. will post 2.17 EPS for the current fiscal year.

Insider Activity at First BanCorp.

In other news, Director Roberto R. Herencia sold 4,723 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $22.63, for a total transaction of $106,881.49. Following the completion of the transaction, the director directly owned 637,019 shares in the company, valued at approximately $14,415,739.97. This represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Mcdonald sold 34,122 shares of the firm's stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $22.11, for a total value of $754,437.42. Following the transaction, the executive vice president owned 62,937 shares in the company, valued at $1,391,537.07. This trade represents a 35.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On First BanCorp.

Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in First BanCorp. by 4.1% during the third quarter. Nisa Investment Advisors LLC now owns 13,013 shares of the bank's stock worth $287,000 after purchasing an additional 508 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in First BanCorp. by 5.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the bank's stock worth $234,000 after purchasing an additional 526 shares during the last quarter. California State Teachers Retirement System lifted its stake in First BanCorp. by 0.4% during the second quarter. California State Teachers Retirement System now owns 151,294 shares of the bank's stock worth $3,151,000 after purchasing an additional 529 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in First BanCorp. by 4.1% during the third quarter. PNC Financial Services Group Inc. now owns 14,217 shares of the bank's stock worth $313,000 after purchasing an additional 557 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in First BanCorp. by 14.5% during the third quarter. Smartleaf Asset Management LLC now owns 4,785 shares of the bank's stock worth $106,000 after purchasing an additional 605 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors.

More First BanCorp. News

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Q1 EPS beat and profitability — First BanCorp. reported $0.57 EPS vs. the $0.52 consensus and $0.47 a year ago; return on equity was 17.3% and net margin 27.5%, which supports earnings momentum and investor confidence. MarketBeat Q1 Report
• Positive Sentiment: Dividend declared — Board approved a $0.20 quarterly dividend (3.4% yield on current levels), payable June 12 to holders of record May 28, which supports income-oriented investors and the share base. Seeking Alpha Dividend Article
• Neutral Sentiment: Call materials and analyst write-ups available — Management's earnings call transcript and slide deck are posted (useful for detail on loan trends, deposit costs and credit outlook); some outlets highlight the beat while others focus on mixed metrics. Review the transcript for guidance color. Earnings Call Transcript
• Neutral Sentiment: Analyst notes are mixed — Coverage (Zacks, MSN) notes the EPS outperformance but provides varying takes on revenue and key metrics; this suggests analyst revisions could follow after management commentary. Zacks Earnings Note
• Negative Sentiment: Revenue missed estimates — Reported revenue was $258.6M vs. consensus ~$263.5M, a modest miss that could temper enthusiasm if it reflects slowing loan growth or fee income. Investors will watch management's comments on topline drivers. MarketBeat Revenue Summary

About First BanCorp.

First BanCorp NYSE: FBP is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.

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