First BanCorp. (FBP) Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

May 17, 2018 - By Matt Thomas

First BanCorp. (NYSE:FBP) Logo

Investors sentiment decreased to 0.99 in Q4 2017. Its down 1.50, from 2.49 in 2017Q3. It turned negative, as 32 investors sold First BanCorp. shares while 51 reduced holdings. 28 funds opened positions while 54 raised stakes. 191.75 million shares or 0.33% more from 191.13 million shares in 2017Q3 were reported.
Hennessy Advsrs Inc accumulated 445,000 shares. Penbrook Mgmt Ltd Limited Liability Company holds 119,340 shares. North Star Inv Mngmt has 0% invested in First BanCorp. (NYSE:FBP). Tci Wealth has 0% invested in First BanCorp. (NYSE:FBP) for 292 shares. One Trading Lp accumulated 1,233 shares or 0% of the stock. Rhumbline Advisers invested in 412,671 shares or 0% of the stock. Ironwood Invest Mngmt Limited Co accumulated 147,567 shares. Hutchin Hill Cap Ltd Partnership holds 0.81% or 568,029 shares. Credit Suisse Ag accumulated 112,778 shares or 0% of the stock. 34,047 were accumulated by Proshare Ltd Limited Liability Company. Voya Invest Mgmt Ltd Liability Corporation reported 0.03% in First BanCorp. (NYSE:FBP). 338,065 are owned by James Invest Rech Incorporated. State Board Of Administration Of Florida Retirement Sys has invested 0% in First BanCorp. (NYSE:FBP). Aperio Group Ltd Limited Liability Company has invested 0.01% of its portfolio in First BanCorp. (NYSE:FBP). Federated Incorporated Pa has invested 0% in First BanCorp. (NYSE:FBP).

The stock of First BanCorp. (NYSE:FBP) hit a new 52-week high and has $8.61 target or 9.00 % above today’s $7.90 share price. The 8 months bullish chart indicates low risk for the $1.71B company. The 1-year high was reported on May, 17 by Barchart.com. If the $8.61 price target is reached, the company will be worth $153.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.64% or $0.05 during the last trading session, reaching $7.9. About 1.25M shares traded. First BanCorp. (NYSE:FBP) has risen 8.46% since May 17, 2017 and is uptrending. It has underperformed by 3.09% the S&P500.

Analysts await First BanCorp. (NYSE:FBP) to report earnings on July, 27. They expect $0.14 earnings per share, up 7.69 % or $0.01 from last year’s $0.13 per share. FBP’s profit will be $30.30 million for 14.11 P/E if the $0.14 EPS becomes a reality. After $0.14 actual earnings per share reported by First BanCorp. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

First BanCorp. (NYSE:FBP) Ratings Coverage

Among 3 analysts covering First BanCorp (NYSE:FBP), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. First BanCorp has $9 highest and $6 lowest target. $8.50’s average target is 7.59% above currents $7.9 stock price. First BanCorp had 5 analyst reports since November 20, 2017 according to SRatingsIntel. The firm earned “Buy” rating on Monday, April 30 by Citigroup. The stock has “Neutral” rating by Merion Capital on Monday, April 30. Citigroup upgraded the shares of FBP in report on Thursday, December 21 to “Buy” rating. The stock of First BanCorp. (NYSE:FBP) earned “Buy” rating by Piper Jaffray on Monday, January 29. Citigroup maintained it with “Neutral” rating and $6 target in Monday, November 20 report.

Another recent and important First BanCorp. (NYSE:FBP) news was published by Seekingalpha.com which published an article titled: “First BanCorp 2018 Q1 – Results – Earnings Call Slides” on April 27, 2018.

First BanCorp. operates as the bank holding firm for FirstBank Puerto Rico that provides a range of financial services and products to retail, commercial, and institutional clients. The company has market cap of $1.71 billion. The Company’s Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings, as well as cash and business management services; and underwrites municipal securities, and other investment banking services. It has a 26.33 P/E ratio. The company's Consumer Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leasing and insurance activities.

First BanCorp. (NYSE:FBP) Institutional Positions Chart

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