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First Bancorp (FBP) Gains But Lags Market: What You Should Know

·3 min read

First Bancorp (FBP) closed the most recent trading day at $14.44, moving +0.56% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.53%. At the same time, the Dow added 1.19%, and the tech-heavy Nasdaq gained 0.14%.

Heading into today, shares of the holding company for FirstBank Puerto Rico had lost 9.8% over the past month, lagging the Finance sector's loss of 1.54% and the S&P 500's loss of 3.1% in that time.

Investors will be hoping for strength from First Bancorp as it approaches its next earnings release. In that report, analysts expect First Bancorp to post earnings of $0.39 per share. This would mark year-over-year growth of 5.41%. Our most recent consensus estimate is calling for quarterly revenue of $228.69 million, up 6.52% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.60 per share and revenue of $907.91 million. These totals would mark changes of +14.29% and +6.68%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for First Bancorp. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. First Bancorp is currently sporting a Zacks Rank of #2 (Buy).

Looking at its valuation, First Bancorp is holding a Forward P/E ratio of 9. For comparison, its industry has an average Forward P/E of 10.41, which means First Bancorp is trading at a discount to the group.

Investors should also note that FBP has a PEG ratio of 0.9 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FBP's industry had an average PEG ratio of 0.9 as of yesterday's close.

The Banks - Southeast industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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