<div id="readability-page-1"><p><span>First BanCorp. (NYSE:FBP - Get Free Report)</span> had its price objective upped by analysts at Wells Fargo &amp; Company  from $23.00 to $24.00 in a research report issued on Monday,Benzinga reports. The firm currently has an &#34;overweight&#34; rating on the bank's stock. Wells Fargo &amp; Company's price objective indicates a potential upside of 14.58% from the stock's current price.</p><div><p><span></span><span>Get <strong>First BanCorp.</strong> alerts:</span></p></div><p>A number of other equities analysts have also commented on FBP. Piper Sandler  reaffirmed a &#34;neutral&#34; rating and issued a $24.00 price objective (up from $23.00) on shares of First BanCorp. in a research note on Friday, January 30th. Keefe, Bruyette &amp; Woods increased their price target on shares of First BanCorp. from $24.00 to $24.50 and gave the company a &#34;market perform&#34; rating in a research report on Wednesday, January 28th. Weiss Ratings  reaffirmed a &#34;buy (b)&#34; rating on shares of First BanCorp. in a research report on Thursday, January 22nd. Truist Financial boosted their target price on shares of First BanCorp. from $24.00 to $25.00 and gave the company a &#34;buy&#34; rating in a research note on Thursday, January 29th. Finally, Hovde Group increased their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the company an &#34;outperform&#34; rating in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and two have assigned  a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $24.75.</p><p><b>Read Our Latest Analysis on FBP</b></p><h2>First BanCorp. Price Performance</h2><p>Shares of NYSE:FBP traded up $0.09 during trading on Monday, reaching $20.95. 154,162 shares of the company traded hands, compared to its average volume of 1,431,521. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15. First BanCorp. has a 52 week low of $16.40 and a 52 week high of $23.43. The firm has a market capitalization of $3.26 billion, a PE ratio of 9.71, a PEG ratio of 1.30 and a beta of 0.87. The company's 50 day moving average is $21.63 and its two-hundred day moving average is $21.15. </p><p>First BanCorp. (NYSE:FBP - Get Free Report) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. First BanCorp. had a return on equity of 17.33% and a net margin of 27.48%.The business had revenue of $257.17 million during the quarter, compared to the consensus estimate of $256.18 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share.  As a group, sell-side analysts predict that  First BanCorp. will post 1.85 earnings per share for the current year. </p><h2>Insider Buying and Selling</h2><p>In other First BanCorp. news, EVP Michael Mcdonald sold 34,122 shares of First BanCorp. stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $22.11, for a total transaction of $754,437.42. Following the completion of the sale, the executive vice president directly owned 62,937 shares in the company, valued at $1,391,537.07. The trade was a 35.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Roberto  R. Herencia sold 4,723 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $22.63, for a total transaction of $106,881.49. Following the completion of the transaction, the director directly owned 637,019 shares of the company's stock, valued at approximately $14,415,739.97. This represents a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own  2.30% of the company's stock. </p><h2>Institutional Investors Weigh In On First BanCorp.</h2><p>Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of  First BanCorp. by 151.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank's stock valued at $39,000 after purchasing an additional 1,129 shares during the last quarter.  First Horizon Corp purchased a new position in shares of  First BanCorp. during the fourth quarter worth approximately $40,000.  Hantz Financial Services Inc. boosted its stake in shares of  First BanCorp. by 1,695.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,155 shares of the bank's stock valued at $48,000 after purchasing an additional 2,035 shares in the last quarter.  Jones Financial Companies Lllp raised its position in  First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank's stock worth $57,000 after purchasing an additional 2,262 shares during the period.  Finally, State of Wyoming bought a new stake in  First BanCorp. in the fourth quarter worth $64,000. Institutional investors own  97.91% of the company's stock. </p><h2>About First BanCorp.</h2> (Get Free Report)<p>First BanCorp <span>NYSE: FBP<span></span></span> is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.  </p><p>In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.</p><h2>See Also</h2><ul><li>Five stocks we like better than First BanCorp.</li></ul><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUZCUA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="600" height="385" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/RatingsChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUZCUA"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in First BanCorp. Right Now?</h2><p>Before you consider First BanCorp., you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First BanCorp. wasn't on the list.</p><p>While First BanCorp. currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

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<p>Wells Fargo & Company has raised its price target for First BanCorp. (NYSE:FBP) from $23.00 to $24.00, maintaining an "overweight" rating. This indicates a potential upside of 14.58% from the current stock price. Other analysts have also increased their price targets, with Piper Sandler and Truist Financial setting targets at $24.00 and $25.00, respectively. The stock is currently trading at $20.95, with a consensus rating of "Moderate Buy" and an average target price of $24.75. First BanCorp. reported a quarterly EPS of $0.55, exceeding estimates.</p>

First BanCorp. (NYSE:FBP) Price Target Raised to $24.00 at Wells Fargo & Company