First Bancorp (NYSE:FBP) Receiving Positive News Coverage, Report Shows
News coverage about First Bancorp (NYSE:FBP) has been trending positive this week, according to Accern. The research group ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. First Bancorp earned a news impact score of 0.25 on Accern’s scale. Accern also assigned news headlines about the bank an impact score of 47.1738497618811 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- Comparing First Bancorp (FBP) and HarborOne Bancorp (HONE) (americanbankingnews.com)
- Financial Comparison: First Bancorp (FBP) and First Bank (FRBA) (americanbankingnews.com)
- First Bancorp (FBP) and HomeStreet (HMST) Critical Review (americanbankingnews.com)
- Sierra Bancorp (BSRR) & First Bancorp (FBP) Critical Review (americanbankingnews.com)
- First BanCorp to Announce 3Q 2018 Results on October 25, 2018 (finance.yahoo.com)
FBP has been the subject of several analyst reports. Sandler O’Neill reaffirmed a “buy” rating and issued a $10.00 price objective on shares of First Bancorp in a research note on Thursday, August 2nd. Zacks Investment Research raised First Bancorp from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research note on Friday, July 27th. ValuEngine lowered First Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Merion Capital Group raised First Bancorp from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $8.00 to $9.50 in a research note on Thursday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $8.63.
First Bancorp (NYSE:FBP) last announced its quarterly earnings results on Wednesday, July 25th. The bank reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The business had revenue of $150.94 million for the quarter, compared to the consensus estimate of $150.60 million. First Bancorp had a return on equity of 6.36% and a net margin of 11.06%. During the same period last year, the business posted $0.13 EPS. research analysts predict that First Bancorp will post 0.59 EPS for the current year.
About First Bancorp
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. It operates through six segments: Commercial and Corporate Banking, Consumer (Retail) Banking, Mortgage Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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