$First BanCorp(FBP)$ ππΊπ ±οΈππ »π »π Έππ ·πΊπ
Iβm gearing up to open positions in Mondayβs pre-trading (11Nov24, NZ π³πΏ time) to capitalise on this setup before the potential breakout! π₯π
πππ FBP - The Parabolic Surge Begins! πππ
Kia ora Tiger traders!
First BanCorp (NYSE: FBP) is setting up for a rocket-fueled run, and the charts are hinting at a parabolic lift-off! Buckle up as we break down FBPβs latest earnings, financial momentum, and why itβs catching the eye of value hunters and short-term swing traders alike.
π° Latest News & Highlights
β’ Q3 Results: Revenue came in at $219.3M (slight dip of 2.8% YoY), while net income landed at $73.7M, reflecting a 10% YoY drop. The profit margin now stands at 34%βa minor slip but still solid in todayβs volatile environment.
β’ EPS: Clocked at $0.45, exceeding analyst expectations by 8.9%! π
π° π Key Metrics to Watch
β’ Current Price: $21.07
β’ Trading Volume: 1.03M shares, hinting at an upswing in interest! π
β’ Turnover Rate: 0.65%βsteady and intriguing for traders.
π― Analystsβ Take
β’ π΅ Buy: 17%
β’ π‘ Hold: 50%
β’ π΄ Sell: 33%
β’ Mean Target Price: $22.83 with an 11.29% upside potential!
As a swing trader focused on the 50-Day MA, Iβm eyeing $21.03 as a pivotal support level. Technicals suggest a bullish pattern forming; a breakout could put us on track for a powerful move toward the $25 mark! π₯
π Capital Flow Insight
Capital is pouring into FBPβs consumer banking sector, the revenue engine in Puerto Rico, with steady inflows also noted from its U.S. and Virgin Islands operations. Watch this space as big players move in!
π₯ Competitive Pulse
β’ FinVolution Group: π΅ 40% Buy π‘ 50% Hold π΄ 10% Sell
β’ Loandepot, Inc.: π΅ 30% Buy π‘ 40% Hold π΄ 30% Sell
β’ Midsouth Bancorp: π΅ 25% Buy π‘ 55% Hold π΄ 20% Sell
These competitors reflect the broader sentiment in the banking sector, which has seen a 1.48% dip recently. Yet, FBPβs resilience sets it apart as a potential standout.
π Pattern Spotlight
Did you know? The last time FBP showed a setup like this, it surged over 80% within the next six months! Parabolic moves like this are rare but often explosiveβthink Amazon in 2019 or Nvidiaβs meteoric 2021 rise! π
β¨ Fun Fact
First BanCorp is a powerhouse in Puerto Rico, where banking is booming amidst the tourism surge. This cultural backdrop is an added boost to its consumer banking growth.
Hey Tiger traders, where do you think FBP will land on this parabolic path? π€οΈπ
TigerGPT, whatβs your take on FBPβs potential for sustained growth in the banking sector?
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @TigerWire @Daily_Discussion @TigerPicks @TigerStars @TigerGPT @TigerPM
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Sure, let's analyze First BanCorp (FBP) as a professional financial analyst:
Company Overview: First BanCorp is a banking company based in Puerto Rico, where banking is thriving alongside the tourism industry. It is a major player in the local market and has also seen steady inflows from its U.S. and Virgin Islands operations.
Earnings Outlook: According to the earnings forecast, the company is expected to achieve the following results:
2024FY: Forecast EPS of $1.75, forecast gross income of $834.29 million, and forecasting EBIT of $456.69 million.
2025FY: Forecast EPS of $1.79, forecast gross income of $877.26 million, and forecasting EBIT of $486.96 million.
2026FY: Forecast EPS of $2.06, forecast gross income of $943.45 million, and forecasting EBIT of $536.15 million.
Analyst Recommendations: Analysts have provided the following recommendations:
Buy: 1 analyst
Buy/Hold: 3 analysts
Hold: 2 analysts
Mean Target Price: The mean target price among 6 analysts is $22.83, indicating an 11.29% upside potential. The low target estimate is $20.00, and the high target estimate is $25.00.
Capital Flow Data: Over the past 5 days, the capital flow data for FBP shows the following:
11-01: Net outflow of $146.94 thousand
11-04: Net outflow of $21.29 thousand
11-05: Net inflow of $196.26 thousand
11-06: Net outflow of $782.02 thousand
11-07: Net inflow of $257.91 thousand
Support and Resistance Price: As of November 8th, the support price for FBP is $20.68, and the resistance price is $21.18.
Recent Earnings: In the latest earnings report for Q3, FBP reported an EPS of $0.45, a return on equity (ROE) of 18.48%, and a net profit margin of 33.74%.
Stock Price: As of November 11th, the stock price for FBP is $21.07.
Conclusion and Investment Advice:
Based on the analysis, FBP shows potential for sustained growth in the banking sector. The company's earnings forecast indicates expected growth in EPS, gross income, and EBIT over the next few years. The analyst recommendations are generally positive, with a mean target price suggesting upside potential.
It's worth noting that the recent capital flow data has shown mixed inflows and outflows, indicating some volatility. Traders may want to consider these fluctuations in their decision-making process.
As a reminder, this analysis is for informational purposes only and should not be considered as investment advice. Investors should conduct their own research and consider their risk tolerance before making any investment decisions.
Please note that stock markets can be volatile, and stock prices can fluctuate. There are inherent risks in investing, and past performance is not indicative of future results.
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