First BanCorp. (FBP) Projected to Post Earnings on Thursday

First BanCorp. (NYSE:FBP) is expected to be posting its quarterly earnings results before the market opens on Thursday, January 23rd. Analysts expect First BanCorp. to post earnings of $0.41 per share and revenue of $236,546.60 billion for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

First BanCorp. (NYSE:FBP) last posted its earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The firm had revenue of $234.57 million during the quarter, compared to analysts’ expectations of $238.51 million. During the same quarter in the prior year, the firm earned $0.46 EPS. First BanCorp.’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect First BanCorp. to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

First BanCorp. Price Performance

NYSE FBP opened at $19.70 on Wednesday. The company has a 50-day moving average price of $19.75 and a two-hundred day moving average price of $20.17. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. First BanCorp. has a 52 week low of $15.78 and a 52 week high of $22.40. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.18 dividend. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.66%. First BanCorp.’s dividend payout ratio is currently 35.36%.

Insider Activity at First BanCorp.

In related news, EVP Nayda Rivera sold 25,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $21.19, for a total transaction of $529,750.00. Following the completion of the sale, the executive vice president now directly owns 236,490 shares of the company’s stock, valued at $5,011,223.10. This represents a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Hovde Group reduced their price target on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Piper Sandler reduced their price target on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of First BanCorp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

First BanCorp. Company Profile

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.