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Zacks #1 Stocks on the Move 07/29/2015

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Stock Investors Bid Up Shares of First Bancorp, Up 2.8%

Print Share

Dec 18, 2014 (Market movers via COMTEX) -- First Bancorp (NYSE:FBP), a company whose shares are moving quickly, is trading 2.8% higher to $5.78. The Dow Jones Industrial Average is now trading 1.7% higher to 17,647 and the S&P is trading 1.6% higher to 2,046.

First Bancorp share prices have moved between a 52-week high of $6.27 and a 52-week low of $4.36 and are now trading 33% above that low price at $5.78 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

First BanCorp. is the holding company for FirstBank Puerto Rico. The Bank provides commercial banking services through a network of offices in Puerto Rico and the U.S. Virgin Islands. First BanCorp also operates Money Express, a small loan company and First Leasing and Rental Corporation, a vehicle leasing and rental company.

First Bancorp (NYSE:FBP) has potential upside of 21.1% based on a current price of $5.78 and analysts' consensus price target of $7.00. The stock should find initial support at its 200-day moving average (MA) of $5.20 and further support at its 50-day MA of $5.10.

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