Raymond James Rates First BanCorp. (FBP) buy, $32 Price Target

Raymond James maintains its buy rating for FBP with a target price of $32, a 22.75% upside from the current price.

By TradeTexts Research Desk · Published Jul 1, 2026, 12:01 PM EDT · Updated Jul 1, 2026, 3:01 PM EDT

Reviewed by automated data checks against the source data. How we make and check alerts

Raymond James rated First BanCorp. ($FBP) "buy" with a $32 price target on July 1, 2026.

Since the rating, $FBP is down 2.5% after 1 week, up 8.4% after 1 month and up 3.3% to date (from the $26.50 close on Jul 1, 2026).

FBP First BanCorp.

$27.37 +34.17% year to date

Daily close · Oct 16, 2026

Key Points

On July 1, 2026, Raymond James reiterated its buy rating on FBP with a $32 price target.
Raymond James's $32 price target implies 22.75% upside from First BanCorp.'s ($FBP) current $26.07 share price.
FBP shares traded at $26.07 on Wednesday, with recent insider sales by top executives.
BlackRock and Vanguard opened or increased positions in FBP, while FMR reduced its stake.

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On July 1, 2026, Raymond James reiterated its buy rating on FBP, setting a target price of $32. The analyst Steve Moss maintained his positive outlook on the stock.

Analyst rating track record

Raymond James vs. the S&P 500

YTD return +92.95% hypothetical

All-time return +47.49% S&P 500 +50.92%

vs. S&P 500 -3.43% behind the index

Hypothetical returns from Raymond James's disclosed trades, not real profit or advice. How we model this.

Other Institutional Activity in FBP

BlackRock, Inc. increased its holdings in FBP by 107,661 shares, ending with 22,895,280 shares valued at approximately $489.0 million. Vanguard Portfolio Management LLC opened a new position, acquiring 13,004,220 shares worth about $277.8 million. FMR LLC, however, reduced its stake by 120,150 shares, bringing its total to 9,666,926 shares with a value of $206.5 million. State Street Corp added 65,726 shares to its holdings, now totaling 8,437,133 shares valued at $180.2 million. Dimensional Fund Advisors LP decreased its position by 165,786 shares, holding 7,893,229 shares worth about $168.6 million.

First BanCorp. Stock Down 5.5%

Shares of FBP traded near $26.07 on Wednesday. The stock has been active in the market, with several institutional investors adjusting their positions. The recent trading activity may reflect broader market trends or specific investor strategies.

12-month forecast

$FBP price target

First BanCorp. daily closes and this analyst's $32 target. Not advice.

Insider Buying and Selling at First BanCorp.

Lilian Diaz-Bento, Executive Vice President, sold 8,000 shares at an average price of $24.33 on June 5, 2026. Earlier in the year, on March 21, several insiders, including CEO Aurelio Aleman and CFO Orlando Berges Gonzalez, sold shares at $20.57 per share. These insider transactions are routine and part of ongoing portfolio adjustments.

Analysts Set New Price Targets

On July 1, 2026, Raymond James maintained its buy rating for FBP with a $32 price target. Previously, on April 27, 2026, the firm upgraded the stock to a buy with a $27 target. Other firms like Truist Securities and Wells Fargo have maintained their buy ratings with targets ranging from $24 to $26. Piper Sandler and Keefe, Bruyette & Woods have maintained hold ratings with price targets around $25 to $26.

Bottom Line

Raymond James' reiterated buy rating and $32 price target for FBP reflect continued confidence in the stock's potential. Investors follow these analyst reports closely as they provide insights into market sentiment. It's important to note that these ratings are based on past data and market conditions as of July 1, 2026.