First BanCorp. New with ticker code (FBP) now have 5 confirmed analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price High/Low ranges between 16 and 12.5 calculating the average target price we see $14.10. Now with the previous closing price of $11.34 this now indicates there is a potential upside of 24.3%. It’s also worth noting that there is a 50 day moving average of $12.38 and the 200 moving average now moves to $13.88. The company has a market capitalization of $2,005m. Company Website: https://www.1firstbank.com
The potential market cap would be $2,493m based on the market consensus.
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, as well as other products, such as cash management and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loans; acquisition and sale of mortgages in the secondary markets; and purchase of mortgage loans from other local banks and mortgage bankers. The Consumer (Retail) Banking segment provides auto loans, finance leases, boat and personal loans, credit card loans, and lines of credit; and interest-bearing and non-interest-bearing checking and savings accounts, and individual retirement accounts and retail certificates of deposit (CDs), as well as insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; traditional commercial and industrial, and commercial real estate loans, residential mortgages, home equity loans, lines of credit, FHLB advances, and brokered CDs; and internet banking, cash management, remote deposit capture, and automated clearing house transactions services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. First BanCorp. was founded in 1948 and is headquartered in San Juan, Puerto Rico.
The company has a dividend yield of 4.94% with the ex dividend date set at 23-2-2023 (DMY).
