Wall Street analysts expect First Bancorp (NYSE:FBP) to announce earnings per share of $0.08 for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for First Bancorp’s earnings, with the lowest EPS estimate coming in at $0.07 and the highest estimate coming in at $0.09. First Bancorp reported earnings per share of $0.11 in the same quarter last year, which would suggest a negative year over year growth rate of 27.3%. The company is expected to announce its next earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that First Bancorp will report full-year earnings of $0.42 per share for the current fiscal year, with EPS estimates ranging from $0.40 to $0.43. For the next fiscal year, analysts forecast that the business will post earnings of $0.53 per share, with EPS estimates ranging from $0.50 to $0.55. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for First Bancorp.

First Bancorp (NYSE:FBP) last announced its quarterly earnings data on Monday, January 29th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $137.22 million for the quarter, compared to analysts’ expectations of $137.80 million. First Bancorp had a net margin of 9.88% and a return on equity of 5.89%. During the same period in the previous year, the company posted $0.11 EPS.

Several equities analysts have issued reports on FBP shares. Citigroup dropped their price objective on shares of First Bancorp from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Monday, November 20th. Bank of America lowered their price objective on shares of First Bancorp from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. ValuEngine downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, TheStreet downgraded shares of First Bancorp from a “b-” rating to a “c” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.80.

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. bought a new position in First Bancorp during the fourth quarter worth $105,000. Amalgamated Bank lifted its stake in First Bancorp by 36.3% during the second quarter. Amalgamated Bank now owns 22,481 shares of the bank’s stock worth $130,000 after purchasing an additional 5,989 shares during the last quarter. CIBC Asset Management Inc bought a new position in First Bancorp during the fourth quarter worth $124,000. Quantitative Systematic Strategies LLC bought a new position in First Bancorp during the fourth quarter worth $145,000. Finally, Profund Advisors LLC lifted its stake in First Bancorp by 15.2% during the second quarter. Profund Advisors LLC now owns 30,661 shares of the bank’s stock worth $178,000 after purchasing an additional 4,052 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Shares of First Bancorp (NYSE FBP) traded down $0.04 on Tuesday, reaching $5.75. 498,681 shares of the company’s stock traded hands, compared to its average volume of 2,281,672. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1,250.00, a PE ratio of 19.17, a P/E/G ratio of 0.50 and a beta of 1.98. First Bancorp has a 12 month low of $4.48 and a 12 month high of $6.70.

ILLEGAL ACTIVITY WARNING: “” was first posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://theolympiareport.com/2018/02/13/482403.html.

First Bancorp Company Profile

First BanCorp. is a financial holding company. As of December 31, 2016, the Company controlled two subsidiaries: FirstBank Puerto Rico (the Bank or FirstBank) and FirstBank Insurance Agency, Inc (FirstBank Insurance Agency). It operates in six segments: Commercial and Corporate Banking, which consists of lending and other services; Consumer (Retail) Banking, which consists of consumer lending and deposit-taking activities; Mortgage Banking, which consists of the origination, sale, and servicing of a range of residential mortgage loan products and related hedging activities; Treasury and Investments, which consists of treasury and investment management functions; United States Operations, which consists of all banking activities conducted by FirstBank on the United States mainland, and Virgin Islands Operations, which consists of banking activities conducted by FirstBank in the United States Virgin Islands and British Virgin Islands, including retail and commercial banking services.

Get a free copy of the Zacks research report on First Bancorp (FBP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.