First BanCorp. [NYSE: FBP] gained 10.11% on the last trading session, reaching $14.48 price per share at the time. The company report on April 28, 2022 that First BanCorp. Announces Earnings for the Quarter Ended March 31, 2022.
Net income of $82.6 million, or $0.41 per diluted share, for the first quarter of 2022, compared to $73.6 million, or $0.35 per diluted share, for the fourth quarter of 2021. The net income for the first quarter of 2022 and fourth quarter 2021 included the following items:.
Provision for credit losses was a net benefit of $13.8 million ($8.6 million after-tax, or an increase of $0.07 per diluted share) for the first quarter of 2022, reflecting, among other things, continued positive long-term outlook of certain macroeconomic variables and their impact on qualitative reserves. The provision for credit losses for the fourth quarter of 2021 was a net benefit of $12.2 million ($7.6 million after-tax, or an increase of $0.06 per diluted share).
First BanCorp. represents 203.27 million in outstanding shares, while the company has a total market value of $3.03 billion with the latest information. FBP stock price has been found in the range of $13.64 to $14.60.
If compared to the average trading volume of 2.10M shares, FBP reached a trading volume of 3097095 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about First BanCorp. [FBP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FBP shares is $22.58 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FBP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Keefe Bruyette have made an estimate for First BanCorp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 12, 2022. While these analysts kept the previous recommendation, Hovde Group raised their target price to Outperform. The new note on the price target was released on December 20, 2021, representing the official price target for First BanCorp. stock. Previously, the target price had yet another raise to $16, while Wells Fargo analysts kept a Overweight rating on FBP stock.
The Average True Range (ATR) for First BanCorp. is set at 0.51, with the Price to Sales ratio for FBP stock in the period of the last 12 months amounting to 3.81. The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 12.31. Price to Free Cash Flow for FBP in the course of the last twelve months was 9.43.
Trading performance analysis for FBP stock
First BanCorp. [FBP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.71. With this latest performance, FBP shares gained by 1.76% in over the last four-week period, additionally plugging by 3.87% over the last 6 months – not to mention a rise of 14.47% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FBP stock in for the last two-week period is set at 64.94, with the RSI for the last a single of trading hit 71.95, and the three-weeks RSI is set at 59.99 for First BanCorp. [FBP]. The present Moving Average for the last 50 days of trading for this stock 13.32, while it was recorded at 13.37 for the last single week of trading, and 13.48 for the last 200 days.
First BanCorp. [FBP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and First BanCorp. [FBP] shares currently have an operating margin of +49.46. First BanCorp.’s Net Margin is presently recorded at +30.60.
Return on Equity for this stock inclined to 12.84, with Return on Assets sitting at 1.41.
First BanCorp. [FBP]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FBP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for First BanCorp. go to 14.40%.
An analysis of insider ownership at First BanCorp. [FBP]
There are presently around $2,668 million, or 96.40% of FBP stock, in the hands of institutional investors. The top three institutional holders of FBP stocks are: BLACKROCK INC. with ownership of 29,534,835, which is approximately -4.297% of the company’s market cap and around 1.60% of the total institutional ownership; VANGUARD GROUP INC, holding 24,099,273 shares of the stock with an approximate value of $348.96 million in FBP stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $225.17 million in FBP stock with ownership of nearly -3.549% of the company’s market capitalization.
Positions in First BanCorp. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 100 institutional holders increased their position in First BanCorp. [NYSE:FBP] by around 13,593,868 shares. Additionally, 140 investors decreased positions by around 20,729,543 shares, while 33 investors held positions by with 149,958,854 shares. The mentioned changes placed institutional holdings at 184,282,265 shares, according to the latest SEC report filing. FBP stock had 35 new institutional investments in for a total of 6,754,290 shares, while 26 institutional investors sold positions of 7,949,124 shares during the same period.