First BanCorp. (FBP): What The Numbers Tell Us

The stock of First BanCorp. (NYSE:FBP) increased by increased by $0.34 on Friday to finish at $14.07, up 2.48 percent. The last five days have seen an average of 1,487,920 shares of common stock traded. 28 times new highs were reached in the current year, with a gain of $4.85. The average number of shares traded over the last 20 days was 1,390,550, while the average volume over the last 50 days totaled 1,680,428.

FBP stock appreciated 12.20% since last month. On 09/23/21, the company’s shares reached a one-month low of $12.34. The stock touched a high of $13.93 on 10/22/21, after rallying from a low of $6.05 in 52 weeks. The price of FBP stock has risen by 52.60% or $4.85 this year, reaching a new high 28 times. Still, the stock price is up 1.01% from the 52-week high.

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Insider Transactions

There have been 84 days since First BanCorp. (FBP) last reported insider trading activity on Aug 02. On Aug 02, Director Eaves Patricia acquired 10 shares at $12.16 each. This transaction resulted in the insider spending $122. On Jul 30, Eaves Patricia added 800 shares at a price of US$12.33. After the transaction, the insider now owns 4,352 shares. Director Heffern John A. had earlier bought 237 shares on Jun 11 for $12.87 a share. The transaction was completed for $3,055.

Valuation Metrics

First BanCorp. (FBP) has a trailing price-to-earnings (P/E) ratio of 14.69. This level actually compares unfavorably with the industry at large, as the PE for the Banks – Regional industry stands at about 13.46. Further, its PE also compares unfavorably with the Financial sector’s trailing 12 months PE ratio, which comes in at 13.15 right now. The PE ratio of First BanCorp. has varied between 26.57 and 4.908 in the last five years. Beta for the stock is 1.33. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.74, the price-to-book (PB) ratio of 1.38, and the price-to-cash flow ratio of 8.66.

First BanCorp.’s dividend is $0.28 per share per year. With a dividend yield of 1.99%, FBP has a payout ratio of 24.90%. On Sep. 10, the company paid $0.07 per share in dividends, remained unchanged from $0.07 last year. A $0.02 dividend increase was reported on Thursday January 28 2021, making it the 1 consecutive year the dividend has increased.

The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.08, and the total debt to equity ratio is 0.08. First BanCorp.’s operating margin stood at 88.10% for the same period. Based on annual data, it had gross profit of $600.32 million and revenue of $692.98 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FBP’s return on assets (ROA) during the last 12 months has been 1.10%. There was a 17.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 9.50%. ROE has averaged 11.10 in the past year for the broader industry.

Earnings Surprise

According to First BanCorp.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that First BanCorp.’s quarterly earnings would be $0.36, but it ended up being $0.26, beating the consensus by 38.50%. At the end of First BanCorp.’s most recent quarter ended June 29, its total debt was $905.66 million. Equity owned by shareholders amounts to $208.5 million.

Technical Picture

Here’s a quick look at First BanCorp.’s (FBP) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 76.15%, suggesting the stock is Overbought, with a 17.14% historical volatility rate.

The stochastic %K and %D were 81.89% and 68.42% respectively, while the average true range (ATR) was 0.32. Based on the 14-day stochastic reading of 97.75%, the RSI (14) reading is 70.55%. On the 9-day MACD Oscillator, the stock is at 0.26, and the 14-day reading is at 0.24.

Analyst Ratings

First BanCorp. (NYSE: FBP) was downgraded by Citigroup to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned First BanCorp. (FBP) an Buy rating. FBP is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.

What is FBP’s price target for the next 12 months?

The current consensus forecast for the stock is between $16.00 and $16.00, with a median target price of $16.00. In analyzing these forecasts, the average price target given by analysts for First BanCorp. (FBP) is $16.00.


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