First Bancorp (FBP) reported quarterly earnings results on Monday, Apr-25-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.08. Analysts expectations of $147.10 million. During the same quarter in the previous year, the company posted $0.12 EPS.
Many Wall Street Analysts have commented on First Bancorp. First Bancorp was Initiated by Piper Jaffray to “Overweight” on Apr 8, 2016.
First Bancorp opened for trading at $3.37 and hit $3.51 on the upside on Friday, eventually ending the session at $3.46, with a gain of 3.90% or 0.13 points. The heightened volatility saw the trading volume jump to 9,81,156 shares. Company has a market cap of $745 M.
In a different news, on Nov 17, 2015, Ginoris Lopez-lay (EVP) sold 10,000 shares at $3.88 per share price.
First BanCorp. is a financial holding company. The Company serves as the bank holding company for FirstBank Puerto Rico (FirstBank) and FirstBank Insurance Agency Inc. (FirstBank Insurance Agency). Through its wholly owned subsidiaries the Company provides financial services and products with operations in Puerto Rico the United States and the United States Virgin Islands and British Virgin Islands. It focuses on commercial banking residential mortgage loan originations finance leases credit cards personal loans small loans auto loans and insurance agency and broker-dealer activities. It operates in six segments: Commercial and Corporate Banking; Consumer (Retail) Banking; Mortgage Banking; Treasury and Investments; United States Operations and Virgin Islands Operations. It has two wholly owned subsidiaries: FirstBank a Puerto Rico-chartered commercial bank and FirstBank Insurance Agency a Puerto Rico-chartered insurance agency.