First Bancorp (FBP) closed the most recent trading day at $14.42, moving +1.62% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.13%. At the same time, the Dow lost 0.56%, and the tech-heavy Nasdaq gained 0.16%.
Heading into today, shares of the holding company for FirstBank Puerto Rico had lost 10.13% over the past month, lagging the Finance sector's loss of 6.7% and the S&P 500's loss of 7.59% 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.60 per share and revenue of $907.91 million, which would represent changes of +14.29% and +6.68%, respectively, from the prior year.
Any recent changes to analyst estimates for First Bancorp should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. First Bancorp is currently a Zacks Rank #2 (Buy).
Looking at its valuation, First Bancorp is holding a Forward P/E ratio of 8.9. This valuation marks a discount compared to its industry's average Forward P/E of 10.46.
It is also worth noting that FBP currently has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Banks - Southeast stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.
The Banks - Southeast industry is part of the Finance sector. This group has a Zacks Industry Rank of 39, putting 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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