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.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of First BanCorp. to $16.00 in a research report on Monday, July 4th. StockNews.com cut First BanCorp. from a "buy" rating to a "hold" rating in a research report on Monday, May 23rd.

First BanCorp. Price Performance

Shares of First BanCorp. stock traded up $0.23 during trading on Friday, reaching $16.15. 29,953 shares of the stock traded hands, compared to its average volume of 1,683,229. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 0.98 and a beta of 1.17. First BanCorp. has a 52-week low of $11.66 and a 52-week high of $16.62. The business has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $13.88.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 25th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, August 24th. First BanCorp.'s dividend payout ratio is presently 32.00%.

Insider Activity at First BanCorp.

In other First BanCorp. news, Director Roberto R. Herencia sold 100,000 shares of First BanCorp. stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.11, for a total value of $1,411,000.00. Following the completion of the transaction, the director now directly owns 732,484 shares of the company's stock, valued at approximately $10,335,349.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First BanCorp. news, CEO Aurelio Aleman sold 10,000 shares of First BanCorp. stock in a transaction on Friday, July 29th. The shares were sold at an average price of $14.93, for a total transaction of $149,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,107,159 shares of the company's stock, valued at $16,529,883.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roberto R. Herencia sold 100,000 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $14.11, for a total transaction of $1,411,000.00. Following the completion of the sale, the director now directly owns 732,484 shares in the company, valued at approximately $10,335,349.24. The disclosure for this sale can be found here. Insiders have sold a total of 180,000 shares of company stock valued at $2,608,400 over the last 90 days. 2.10% of the stock is owned by corporate insiders.