Live Stock Coverage: What’s Propelling First Bancorp to Increase So Much?

Live Stock Coverage: What's Propelling First Bancorp to Increase So Much?

The stock of First Bancorp (NYSE:FBP) is a huge mover today! About 685,238 shares traded hands or 1.50% up from the average. First Bancorp (NYSE:FBP) has risen 102.26% since April 8, 2016 and is uptrending. It has outperformed by 96.61% the S&P500.
The move comes after 7 months positive chart setup for the $1.34 billion company. It was reported on Nov, 10 by Barchart.com. We have $8.06 PT which if reached, will make NYSE:FBP worth $495.80M more.

First Bancorp (NYSE:FBP) Ratings Coverage

Out of 4 analysts covering First Bancorp (NYSE:FBP), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. First Bancorp has been the topic of 4 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Monday, July 27, the company rating was upgraded by Guggenheim. The stock of First Bancorp (NYSE:FBP) has “Outperform” rating given on Wednesday, October 14 by Keefe Bruyette & Woods. The rating was initiated by Piper Jaffray on Friday, April 8 with “Overweight”.

According to Zacks Investment Research, “First Bancorp distinguished itself by providing innovative marketing strategies and novel products to attract clients. Besides the branches and lending offices, the Corporation has offered a telephone information service called Telebanco since 1983. This was the first telebanking service offered in Puerto Rico. The Corporation’s clients have access to an extensive ATM network all over the world. The Corporation was the first in Puerto Rico to open on weekends and the first to offer in-store branches to its clients.”

Insitutional Activity: The institutional sentiment increased to 2.1 in 2016 Q2. Its up 0.69, from 1.41 in 2016Q1. The ratio increased, as 9 funds sold all First Bancorp shares owned while 31 reduced positions. 25 funds bought stakes while 59 increased positions. They now own 138.18 million shares or 24.23% less from 182.37 million shares in 2016Q1.
The New York-based Teachers Advisors has invested 0% in First Bancorp (NYSE:FBP). Manufacturers Life Insur Com The holds 0% or 88,047 shares in its portfolio. Cubist Systematic Strategies Ltd Llc reported 37,530 shares or 0.01% of all its holdings. Moreover, Dimensional Fund Advsrs Lp has 0.01% invested in First Bancorp (NYSE:FBP) for 5.80 million shares. Castine Cap Mngmt Lc accumulated 3.02% or 1.59 million shares. Prudential Inc last reported 290,439 shares in the company. Renaissance Technology Ltd Llc reported 365,100 shares or 0% of all its holdings. Smith Asset Mngmt Gp L P accumulated 0.01% or 107,540 shares. Financial Bank Of Montreal Can last reported 0% of its portfolio in the stock. Teachers Retirement System Of The State Of Kentucky last reported 0% of its portfolio in the stock. Hillsdale Inv Mgmt holds 100,800 shares or 0.12% of its portfolio. Amp Cap Invsts holds 0% or 73,834 shares in its portfolio. Aqr Lc accumulated 519,205 shares or 0% of the stock. Virginia Retirement Et Al has invested 0% of its portfolio in First Bancorp (NYSE:FBP). Invesco accumulated 0% or 596,105 shares.

Insider Transactions: Since August 8, 2016, the stock had 0 insider buys, and 1 sale for $23,104 net activity. On Monday, August 8 PANCHAM CASSAN sold $23,104 worth of the stock or 5,000 shares.

More news for First Bancorp (NYSE:FBP) were recently published by: Journalnow.com, which released: “First Bancorp reports lower profit in busy third quarter” on October 28, 2016. Nasdaq.com‘s article titled: “First BanCorp. Bottom Line Advances 63% In Q3” and published on October 25, 2016 is yet another important article.

FBP Company Profile

First BanCorp., incorporated on March 17, 1998, is a financial holding company. The Firm serves as the bank holding firm for FirstBank Puerto Rico (FirstBank or the Bank) and FirstBank Insurance Agency, Inc. (FirstBank Insurance Agency). The Firm is a service well-known provider of financial services and products with activities in Puerto Rico, the United States, the United States Virgin Islands (USVI) and the British Virgin Islands (BVI). The Firm operates through six divisions: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; United States Operations, and Virgin Islands Operations. The Firm provides a range of financial services for retail, commercial and institutional clients. FirstBank is a Puerto Rico-chartered commercial bank and FirstBank Insurance Agency is a Puerto Rico-chartered insurance agency.

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