Wells Fargo analyst Mike Mayo maintained a Hold rating on First Bancorp Puerto Rico (FBP – Research Report) yesterday and set a price target of $15.00. The company’s shares closed yesterday at $16.57.
Mayo covers the Financial sector, focusing on stocks such as Truist Financial, JPMorgan Chase & Co., and Goldman Sachs Group. According to TipRanks, Mayo has an average return of 8.5% and a 62.96% success rate on recommended stocks.
Currently, the analyst consensus on First Bancorp Puerto Rico is a Moderate Buy with an average price target of $16.33.
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Based on First Bancorp Puerto Rico’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $19.85 million and a net profit of $7.47 million. In comparison, last year the company earned a revenue of $24.08 million and had a net profit of $10.09 million
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FBP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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