$0.06 EPS Expected for First BanCorp. (FBP) This Quarter

Brokerages expect First BanCorp. (NYSE:FBP) to post $0.06 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for First BanCorp.’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.06. First BanCorp. reported earnings of $0.11 per share in the same quarter last year, which would suggest a negative year over year growth rate of 45.5%. The business is scheduled to announce its next earnings results on Thursday, January 25th.

On average, analysts expect that First BanCorp. will report full-year earnings of $0.25 per share for the current fiscal year, with EPS estimates ranging from $0.24 to $0.25. For the next fiscal year, analysts expect that the company will report earnings of $0.40 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for First BanCorp..

FBP has been the subject of a number of recent analyst reports. ValuEngine lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Zacks Investment Research lowered First BanCorp. from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Bank of America dropped their price target on First BanCorp. from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. TheStreet lowered First BanCorp. from a “b-” rating to a “c” rating in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $7.50 price target on shares of First BanCorp. in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $6.50.

Hedge funds have recently modified their holdings of the business. Amalgamated Bank raised its position in First BanCorp. by 36.3% during the second quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock valued at $130,000 after purchasing an additional 5,989 shares during the period. Bank of Montreal Can raised its holdings in shares of First BanCorp. by 21.5% in the second quarter. Bank of Montreal Can now owns 24,092 shares of the bank’s stock worth $139,000 after buying an additional 4,256 shares during the period. Pacad Investment Ltd. raised its holdings in shares of First BanCorp. by 63.7% in the second quarter. Pacad Investment Ltd. now owns 25,700 shares of the bank’s stock worth $149,000 after buying an additional 10,000 shares during the period. LS Investment Advisors LLC raised its holdings in shares of First BanCorp. by 1.4% in the second quarter. LS Investment Advisors LLC now owns 26,044 shares of the bank’s stock worth $151,000 after buying an additional 370 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of First BanCorp. by 15.2% in the second quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock worth $178,000 after buying an additional 4,052 shares during the period. Institutional investors and hedge funds own 90.37% of the company’s stock.

First BanCorp. (FBP) traded down $0.01 during midday trading on Thursday, hitting $5.03. The stock had a trading volume of 6,946,734 shares, compared to its average volume of 2,050,479. The company has a market capitalization of $1,087.36, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 2.71 and a beta of 1.92. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.03 and a current ratio of 1.03. First BanCorp. has a 1 year low of $4.48 and a 1 year high of $7.05.

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