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

First BanCorp. (NYSE:FBP) is expected to be releasing its earnings data 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. Persons that are interested in participating in 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 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $234.57 million for the quarter, compared to analyst estimates of $238.51 million. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 EPS. 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. Stock Performance

NYSE:FBP opened at $19.70 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.72 and a beta of 1.14. The firm’s fifty day simple moving average is $19.75 and its 200 day simple moving average is $20.17. First BanCorp. has a twelve month low of $15.78 and a twelve month high of $22.40.

First BanCorp. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.18 per share. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 3.66%. First BanCorp.’s payout ratio is presently 35.36%.

Insider Transactions at First BanCorp.

In other news, EVP Nayda Rivera sold 25,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the completion of the sale, the executive vice president now owns 236,490 shares of the company’s stock, valued at approximately $5,011,223.10. The trade was a 9.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First BanCorp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler cut their price objective on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Hovde Group cut their price objective on shares of First BanCorp. from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company cut their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, First BanCorp. presently has an average rating of “Moderate Buy” and a consensus price target of $22.20.

About First BanCorp.

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.