First BanCorp. - FBP Stock Forecast, Price & News

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial services to retail, commercial, and institutional clients. The company operates in six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial real estate and construction loans, floor plan financing, and cash and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loan products and related hedging activities; and acquisition and sale of mortgages in the secondary markets. The Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); finance leasing and insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; and residential mortgages, home equity loans, lines of credit, and term and construction loans, as well as Internet banking, cash management, remote data capture, and automated clearing house transaction services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. The company operates 64 branches in Puerto Rico, 8 branches in the U.S. Virgin Islands and British Virgin Islands, and 11 branches in the state of Florida. First BanCorp. was founded in 1948 and is based in Santurce, Puerto Rico.

First BanCorp. Trading Down 0.3 %

FBP traded down $0.05 on Tuesday, reaching $16.20. 2,234,643 shares of the company's stock were exchanged, compared to its average volume of 1,933,750. First BanCorp. has a twelve month low of $11.66 and a twelve month high of $16.62. The company's 50 day moving average is $14.13 and its 200-day moving average is $13.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 1.02 and a beta of 1.17.

First BanCorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Thursday, August 25th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, August 24th. First BanCorp.'s payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com downgraded shares of First BanCorp. from a "buy" rating to a "hold" rating in a research note on Monday, May 23rd. Piper Sandler cut their target price on First BanCorp. to $16.00 in a research report on Monday, July 4th.

Insider Activity

In related news, EVP Nayda Rivera sold 10,000 shares of the company's stock in a transaction on Monday, July 25th. The shares were sold at an average price of $14.81, for a total transaction of $148,100.00. Following the completion of the sale, the executive vice president now directly owns 296,911 shares of the company's stock, valued at approximately $4,397,251.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nayda Rivera sold 10,000 shares of the business's stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $14.81, for a total transaction of $148,100.00. Following the transaction, the executive vice president now directly owns 296,911 shares of the company's stock, valued at approximately $4,397,251.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gonzalez Orlando Berges sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $15.64, for a total transaction of $782,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,664 shares of the company's stock, valued at approximately $4,592,904.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,000 shares of company stock valued at $1,979,400. Company insiders own 2.10% of the company's stock.