First BanCorp. New – Consensus Indicates Potential 89.3% Upside

Broker Ratings

First BanCorp. New found using ticker (FBP) now have 4 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 48.5 and 16 calculating the average target price we see 24.38. With the stocks previous close at 12.88 this would imply there is a potential upside of 89.3%. The 50 day MA is 13.85 while the 200 day moving average is 12.61. The company has a market capitalisation of $2,682m. Company Website: https://www.1firstbank.com

First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in 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 real estate and construction loans, floor plan financing, and cash and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loan products and related hedging activities; and acquisition and sale of mortgages in the secondary markets. The Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); finance leasing and insurance services. The Treasury and Investments segment engages in the treasury and investment management activities, such as funding and liquidity management. The United States Operations segment offers savings, checking, and money market accounts, as well as retail CDs; and residential mortgages, home equity loans, lines of credit, and term loans, as well as Internet banking, cash management, remote data capture, and automated clearing house transaction services. The Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of December 31, 2020, the company operated 73 branches in Puerto Rico, 11 branches in the U.S. Virgin Islands and British Virgin Islands, and 10 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in Santurce, Puerto Rico.

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