Wells Fargo analyst Timur Braziler maintained a Hold rating on First Bancorp Puerto Rico (FBP – Research Report) yesterday and set a price target of $12.50. The company’s shares closed yesterday at $13.72.
According to TipRanks, Braziler is an analyst with an average return of -6.6% and a 40.98% success rate. Braziler covers the Financial sector, focusing on stocks such as Bank OZK, First Bancorp Puerto Rico, and Banc of California.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Bancorp Puerto Rico with a $15.50 average price target.
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FBP market cap is currently $2.45B and has a P/E ratio of 8.70.
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First Bancorp Puerto Rico (FBP) Company Description:
First BanCorp (Puerto Rico) is a holding company, which engages in the provision of personal, commercial, and corporate banking services through its subsidiaries. It operates through the following segments: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. The Commercial and Corporate Banking segment consists of the company’s lending and other services for large customers represented by specialized and middle-market clients and the public sector. The Consumer (Retail) Banking segment includes consumer lending and deposit-taking activities conducted mainly through FirstBank’s branch network in Puerto Rico. The Mortgage Banking segment focuses on the origination, sale, and servicing of a variety of residential mortgage loan products and related hedging activities. The Treasury and Investments segment deals with treasury and investment management functions. The United States Operations segment represents all banking activities conducted by FirstBank on the United States mainland. The Virgin Islands Operations segment includes all banking activities conducted by FirstBank in the U.S. Virgin Islands and the British Virgin Islands. The company was founded on October 29, 1948 and is headquartered in San Juan, Puerto Rico.
