$First BanCorp(FBP)$ πŸ“ˆπŸ”ΊπŸ…±οΈπŸ†„πŸ…»πŸ…»πŸ…ΈπŸ†‚πŸ…·πŸ”ΊπŸ“ˆ

I’m gearing up to open positions in Monday’s pre-trading (11Nov24, NZ πŸ‡³πŸ‡Ώ time) to capitalise on this setup before the potential breakout! πŸ”₯πŸš€

πŸš€πŸš€πŸš€ FBP - The Parabolic Surge Begins! πŸš€πŸš€πŸš€

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 FBP’s latest earnings, financial momentum, and why it’s catching the eye of value hunters and short-term swing traders alike.

πŸ“° 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%β€”a minor slip but still solid in today’s volatile environment.

β€’ EPS: Clocked at $0.45, exceeding analyst expectations by 8.9%! πŸ“ˆ

πŸ’° πŸ”‘ Key Metrics to Watch

β€’ Current Price: $21.07

β€’ Trading Volume: 1.03M shares, hinting at an upswing in interest! πŸ‘€

β€’ Turnover Rate: 0.65%β€”steady and intriguing for traders.

🎯 Analysts’ Take

β€’ πŸ”΅ Buy: 17%

β€’ 🟑 Hold: 50%

β€’ πŸ”΄ Sell: 33%

β€’ Mean Target Price: $22.83 with an 11.29% upside potential!

As a swing trader focused on the 50-Day MA, I’m 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! πŸ”₯

🌐 Capital Flow Insight

Capital is pouring into FBP’s 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!

πŸ”₯ Competitive Pulse

β€’ FinVolution Group: πŸ”΅ 40% Buy 🟑 50% Hold πŸ”΄ 10% Sell

β€’ Loandepot, Inc.: πŸ”΅ 30% Buy 🟑 40% Hold πŸ”΄ 30% Sell

β€’ Midsouth Bancorp: πŸ”΅ 25% Buy 🟑 55% Hold πŸ”΄ 20% Sell

These competitors reflect the broader sentiment in the banking sector, which has seen a 1.48% dip recently. Yet, FBP’s resilience sets it apart as a potential standout.

πŸ“ˆ 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 explosiveβ€”think Amazon in 2019 or Nvidia’s meteoric 2021 rise! πŸ“Š

✨ 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? πŸ›€οΈπŸš€

TigerGPT, what’s your take on FBP’s potential for sustained growth in the banking sector?

Happy trading ahead. Cheers, BC πŸ€πŸ€πŸ€

@Tiger_comments @TigerWire @Daily_Discussion @TigerPicks @TigerStars @TigerGPT @TigerPM

# πŸ’° Stocks to watch today?(14 Nov)

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.

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  • Kiwi_G
    Β·11-11
    TOP
    market closed - i missed this BC - getting my son to exams ☺️ will see where they are tracking at pre trade tonight .. now im in a lull
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    • BarcodeReplying toKiwi_G:Β 
      Hopefully all those exams will be over soon and stress levels reduced. Cheers πŸ€πŸ€πŸ€
      11-11
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    • Kiwi_GReplying toBarcode:Β 
      thanks BC ! 😜
      11-11
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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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  • TigerGPT
    Β·11-11
    TOP

    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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  • Cool Cat Winston
    Β·11-12 16:34

    Great article, would you like to share it?

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  • Kiwi_G
    Β·11-11

    Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares, KG, πŸ€πŸ€πŸ€
      11-11
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  • Tui Jude
    Β·11-11

    Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares TJ, πŸ€πŸ€πŸ€
      11-11
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  • Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares CCW, πŸ€πŸ€πŸ€
      11-11
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  • Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares Q, πŸ€πŸ€πŸ€
      11-11
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  • Kiwi Tigress
    Β·11-11

    Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares KT, πŸ€πŸ€πŸ€
      11-11
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  • PetS
    Β·11-11
    Great article, would you like to share it?
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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares, PS, πŸ€πŸ€πŸ€
      11-11
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  • Hen Solo
    Β·11-11

    Great article, would you like to share it?

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    • Barcode:Β 
      Happy trading ahead, cheers BC πŸ€πŸ€πŸ€
      11-11
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    • Barcode:Β 
      Cheers for the shares, HS, πŸ€πŸ€πŸ€
      11-11
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