First Bancorp PR (NYSE: FBP)’s stock price has plunge by 0.44relation to previous closing price of 20.26. Nevertheless, the company has seen a 1.65% surge in its stock price over the last five trading sessions. businesswire.com reported 2024-09-30 that SAN JUAN, Puerto Rico–(BUSINESS WIRE)–First BanCorp (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2024, before the market opens on October 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Wednesday, October 23, 2024. The call and webcast will be broadcast live over the.
Is It Worth Investing in First Bancorp PR (NYSE: FBP) Right Now?
The price-to-earnings ratio for First Bancorp PR (NYSE: FBP) is above average at 11.16x. The 36-month beta value for FBP is also noteworthy at 1.10. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
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The public float for FBP is 159.84M, and at present, short sellers hold a 1.57% of that float. The average trading volume of FBP on October 11, 2024 was 1.05M shares.
FBP’s Market Performance
The stock of First Bancorp PR (FBP) has seen a 1.65% increase in the past week, with a 3.09% rise in the past month, and a 7.16% gain in the past quarter. The volatility ratio for the week is 1.64%, and the volatility levels for the past 30 days are at 2.08% for FBP. The simple moving average for the past 20 days is -0.71% for FBP’s stock, with a 11.65% simple moving average for the past 200 days.
Analysts’ Opinion of FBP
Many brokerage firms have already submitted their reports for FBP stocks, with Piper Sandler repeating the rating for FBP by listing it as a “Neutral.” The predicted price for FBP in the upcoming period, according to Piper Sandler is $22 based on the research report published on August 26, 2024 of the current year 2024.
Hovde Group, on the other hand, stated in their research note that they expect to see FBP reach a price target of $25, previously predicting the price at $21. The rating they have provided for FBP stocks is “Outperform” according to the report published on July 24th, 2024.
Raymond James gave a rating of “Outperform” to FBP, setting the target price at $21 in the report published on July 09th of the current year.
FBP Trading at -0.58% from the 50-Day Moving Average
After a stumble in the market that brought FBP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -8.00% of loss for the given period.
Volatility was left at 2.08%, however, over the last 30 days, the volatility rate increased by 1.64%, as shares surge +2.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.13% lower at present.
During the last 5 trading sessions, FBP rose by +1.65%, which changed the moving average for the period of 200-days by +22.74% in comparison to the 20-day moving average, which settled at $20.50. In addition, First Bancorp PR saw 23.71% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at FBP starting from McDonald Michael, who sale 1,944 shares at the price of $21.51 back on Sep 03 ’24. After this action, McDonald Michael now owns 87,476 shares of First Bancorp PR, valued at $41,815 using the latest closing price.
McDonald Michael, the EVP of First Bancorp PR, sale 7,612 shares at $21.65 during a trade that took place back on Aug 26 ’24, which means that McDonald Michael is holding 89,420 shares at $164,800 based on the most recent closing price.
Stock Fundamentals for FBP
Current profitability levels for the company are sitting at:
- 0.49 for the present operating margin
- 0.52 for the gross margin
The net margin for First Bancorp PR stands at 0.27. The total capital return value is set at 0.05. Equity return is now at value 21.51, with 1.63 for asset returns.
Based on First Bancorp PR (FBP), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at 0.58. The debt to equity ratio resting at 0.44. The interest coverage ratio of the stock is 2.59.
Currently, EBITDA for the company is 28.24 million with net debt to EBITDA at 0.65. When we switch over and look at the enterprise to sales, we see a ratio of 2.99. The receivables turnover for the company is 14.66for trailing twelve months and the total asset turnover is 0.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.08.
Conclusion
In summary, First Bancorp PR (FBP) has had a better performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
