First Bancorp PR (NYSE: FBP)’s stock price has decreased by -1.78 compared to its previous closing price of 21.31. However, the company has seen a 0.05% increase in its stock price over the last five trading sessions. seekingalpha.com reported 2024-10-23 that First BanCorp. (NYSE:FBP ) Q3 2024 Earnings Conference Call October 23, 2024 10:00 AM ET Company Participants Ramon Rodriguez – IR Aurelio Aleman – President and CEO Orlando Berges – EVP, CFO Conference Call Participants Timur Braziler – Wells Fargo Steve Moss – Raymond James Frank Schiraldi – Piper Sandler Kelly Motta – KBW Operator Good morning all. And thank you all for attending the First BanCorp Q3 2024 Financial Results Conference Call.
Is It Worth Investing in First Bancorp PR (NYSE: FBP) Right Now?
The price-to-earnings ratio for First Bancorp PR (NYSE: FBP) is 11.57x, which is above its average ratio. Moreover, the 36-month beta value for FBP is 1.13. Analysts have varying opinions on the stock, with 3 analysts rating it as a “buy,” 2 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for FBP is 159.83M and currently, short sellers hold a 1.38% of that float. On November 15, 2024, FBP’s average trading volume was 986.68K shares.
FBP’s Market Performance
FBP’s stock has seen a 0.05% increase for the week, with a -1.27% drop in the past month and a 1.50% gain in the past quarter. The volatility ratio for the week is 2.83%, and the volatility levels for the past 30 days are at 3.11% for First Bancorp PR The simple moving average for the past 20 days is 3.57% for FBP’s stock, with a 11.67% simple moving average for the past 200 days.
Analysts’ Opinion of FBP
Many brokerage firms have already submitted their reports for FBP stocks, with Hovde Group repeating the rating for FBP by listing it as a “Outperform.” The predicted price for FBP in the upcoming period, according to Hovde Group is $24 based on the research report published on October 25, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see FBP reach a price target of $22. The rating they have provided for FBP stocks is “Neutral” according to the report published on August 26th, 2024.
Hovde Group gave a rating of “Outperform” to FBP, setting the target price at $25 in the report published on July 24th of the current year.
FBP Trading at 2.54% 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 -6.54% of loss for the given period.
Volatility was left at 3.11%, however, over the last 30 days, the volatility rate increased by 2.83%, as shares sank -2.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.10% upper at present.
During the last 5 trading sessions, FBP rose by +0.05%, which changed the moving average for the period of 200-days by +25.48% in comparison to the 20-day moving average, which settled at $20.21. In addition, First Bancorp PR saw 27.23% 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 ALEMAN AURELIO, who sale 50,000 shares at the price of $21.64 back on Nov 11 ’24. After this action, ALEMAN AURELIO now owns 1,045,261 shares of First Bancorp PR, valued at $1,081,960 using the latest closing price.
ALEMAN AURELIO, the Officer of First Bancorp PR, proposed sale 50,000 shares at $21.54 during a trade that took place back on Nov 11 ’24, which means that ALEMAN AURELIO is holding shares at $1,077,000 based on the most recent closing price.
Stock Fundamentals for FBP
Current profitability levels for the company are sitting at:
- 0.58 for the present operating margin
- 0.42 for the gross margin
The net margin for First Bancorp PR stands at 0.32. The total capital return value is set at 0.04. Equity return is now at value 20.14, with 1.62 for asset returns.
Based on First Bancorp PR (FBP), the company’s capital structure generated 0.26 points at debt to capital in total, while cash flow to debt ratio is standing at 0.63. The debt to equity ratio resting at 0.36. The interest coverage ratio of the stock is 2.43.
Currently, EBITDA for the company is 425.67 million with net debt to EBITDA at -0.24. When we switch over and look at the enterprise to sales, we see a ratio of 3.56. The receivables turnover for the company is 14.05for trailing twelve months and the total asset turnover is 0.05. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.09.
Conclusion
To wrap up, the performance of First Bancorp PR (FBP) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
