First BanCorp. (FBP) Reaches $6.62 After 4.00% Down Move; Chs – Class B Cumulative Redeemable Preferred (CHSCL) Sellers Decreased By 8.03% Their Shorts

April 17, 2018 - By Linda Rogers

First BanCorp. (NYSE:FBP) Logo

The stock of First BanCorp. (NYSE:FBP) is a huge mover today! The stock decreased 1.34% or $0.09 during the last trading session, reaching $6.62. About 177,778 shares traded. First BanCorp. (NYSE:FBP) has risen 8.46% since April 17, 2017 and is uptrending. It has underperformed by 3.09% the S&P500.The move comes after 6 months negative chart setup for the $1.43 billion company. It was reported on Apr, 17 by Barchart.com. We have $6.36 PT which if reached, will make NYSE:FBP worth $57.28 million less.

Chs Inc – Class B Cumulative Redeemable Preferred (NASDAQ:CHSCL) had a decrease of 8.03% in short interest. CHSCL’s SI was 63,000 shares in April as released by FINRA. Its down 8.03% from 68,500 shares previously. With 25,300 avg volume, 3 days are for Chs Inc – Class B Cumulative Redeemable Preferred (NASDAQ:CHSCL)’s short sellers to cover CHSCL’s short positions. The stock decreased 0.76% or $0.21 during the last trading session, reaching $27.42. About 8,818 shares traded. CHS Inc. (NASDAQ:CHSCL) has 0.00% since April 17, 2017 and is . It has underperformed by 11.55% the S&P500.

Investors sentiment decreased to 0.99 in Q4 2017. Its down 1.50, from 2.49 in 2017Q3. It fall, as 32 investors sold First BanCorp. shares while 51 reduced holdings. 28 funds opened positions while 54 raised stakes. 191.75 million shares or 0.33% more from 191.13 million shares in 2017Q3 were reported. Moreover, First Mercantile Trust has 0.02% invested in First BanCorp. (NYSE:FBP). Hennessy stated it has 445,000 shares or 0.07% of all its holdings. Deutsche Comml Bank Ag has 0% invested in First BanCorp. (NYSE:FBP). James Research reported 338,065 shares. Wisconsin-based Mason Street Advisors Limited Co has invested 0.01% in First BanCorp. (NYSE:FBP). Sei Invs Com stated it has 0% of its portfolio in First BanCorp. (NYSE:FBP). Guggenheim Capital Limited Liability Company invested in 250,890 shares or 0% of the stock. North Star Corp reported 2,666 shares. Wellington Mgmt Gp Llp accumulated 4.65 million shares or 0.01% of the stock. Teacher Retirement Sys Of Texas stated it has 0% of its portfolio in First BanCorp. (NYSE:FBP). Hsbc Hldgs Public Limited Co invested 0% of its portfolio in First BanCorp. (NYSE:FBP). State Board Of Administration Of Florida Retirement reported 0% stake. Rafferty Asset Mgmt Llc holds 16,089 shares. Manufacturers Life Ins The, Ontario – Canada-based fund reported 147,370 shares. Walleye Trading Ltd Co has invested 0% in First BanCorp. (NYSE:FBP).

Among 6 analysts covering First Bancorp (NYSE:FBP), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. First Bancorp had 12 analyst reports since July 27, 2015 according to SRatingsIntel. Citigroup initiated First BanCorp. (NYSE:FBP) rating on Wednesday, February 8. Citigroup has “Neutral” rating and $7 target. Citigroup maintained First BanCorp. (NYSE:FBP) on Monday, November 20 with “Neutral” rating. As per Friday, October 6, the company rating was maintained by Piper Jaffray. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Friday, November 10. On Wednesday, November 8 the stock rating was maintained by Bank of America with “Neutral”. Citigroup upgraded First BanCorp. (NYSE:FBP) on Thursday, December 21 to “Buy” rating. The stock of First BanCorp. (NYSE:FBP) earned “Buy” rating by Keefe Bruyette & Woods on Wednesday, October 4. Keefe Bruyette & Woods maintained the shares of FBP in report on Wednesday, October 14 with “Outperform” rating. The firm has “Buy” rating by Piper Jaffray given on Monday, January 29. Piper Jaffray initiated First BanCorp. (NYSE:FBP) on Friday, April 8 with “Overweight” rating.

First BanCorp. operates as the bank holding firm for FirstBank Puerto Rico that provides a range of financial services and products to retail, commercial, and institutional clients. The company has market cap of $1.43 billion. The Company’s Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings, as well as cash and business management services; and underwrites municipal securities, and other investment banking services. It has a 22.07 P/E ratio. The companyÂ’s Consumer Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leasing and insurance activities.

Analysts await First BanCorp. (NYSE:FBP) to report earnings on April, 24. They expect $0.09 earnings per share, down 18.18% or $0.02 from last year’s $0.11 per share. FBP’s profit will be $19.47M for 18.39 P/E if the $0.09 EPS becomes a reality. After $0.13 actual earnings per share reported by First BanCorp. for the previous quarter, Wall Street now forecasts -30.77% negative EPS growth.

First BanCorp. (NYSE:FBP) Institutional Positions Chart

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