Truces Call By Bulls and Bears: First Bancorp (NYSE:FBP), F.N.B. Corporation (NYSE:FNB)

First Bancorp (NYSE:FBP) [Trend Analysis] knocking active thrust in leading trading session, shares an advance of 0.51% to 5.97 with around 1.15 Million shares have changed hands in this session. First BanCorp. (FBP), reported that its subsidiary, FirstBank Puerto Rico, sold on March 10, 2017 its outstanding participation in a line of credit to the Puerto Rico Electric Power Authority (PREPA), reducing its direct exposure to Puerto Rico government related credits. Gross proceeds from the sale have resulted in a slight incremental loss of approximately $570 thousand as compared to the adjusted book balance, net of reserves.

Aurelio Alemán, President and Chief Executive Officer of First BanCorp., commented: “We made the determination to prudently reduce our direct exposure to the Puerto Rico government. This sale reduces our year end NPAs by approximately 9%. Credit quality improvement remains a top priority for our team and this transaction contributes to our continuing efforts.” The stock is going forward its fifty-two week low with 136.90% and lagging behind from its 52-week high price with -15.32%.

Similar, the positive performance for the quarter recorded as -3.40% and for the year was 98.34%, while the YTD performance remained at -9.68%. FBP has Average True Range for 14 days of 0.18.

F.N.B. Corporation (NYSE:FNB) [Trend Analysis] retains strong position in active trade, as shares scoring -0.75% to $15.85 in active trade session, while looking at the shares volume, around 7.3 Million shares have changed hands in this session. Pittsburgh, Pennsylvania-based F.N.B. Corporation (NYSE: FNB) has closed on its buy of Raleigh’s Yadkin Financial, the parent of North Carolina’s largest community bank, creating a $30 billion financial institution. In an interview Monday, FNB President and CEO Vince Delie Jr. says he’ll spend the week visiting branches in the newly acquired Carolinas territory.

Because FNB is integrating two systems, Yadkin had never integrated the system of its own latest acquisition, Greensboro-based NewBridge Bank, the technology aspect of the deal has been challenging, he says. “But once [consumers] get through that initial enrollment process, they will be very happy.” The firm has institutional ownership of 85.60%, while insider ownership included 1.20%. FNB attains analyst recommendation of 2.10 with week’s performance of 0.70%. Investors looking further ahead will note that the Price to next year’s EPS is 15.94%.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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