First BanCorp. (FBP) Expected to Announce Quarterly 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.

First BanCorp. (NYSE:FBP) last released its earnings results on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 2.0% on a year-over-year basis. During the same period last year, the company 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 $19.47 on Thursday. The stock’s fifty day moving average is $19.86 and its two-hundred day moving average is $20.13. The firm has a market capitalization of $3.19 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.78 and a current ratio of 0.78. First BanCorp. has a fifty-two week low of $15.15 and a fifty-two week high of $22.40.

First BanCorp. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 3.29%. First BanCorp.’s dividend payout ratio is presently 35.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FBP shares. Piper Sandler decreased their price objective on shares of First BanCorp. from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Hovde Group dropped their price objective on First BanCorp. from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company dropped their price target on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note 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’s stock. Based on data from MarketBeat.com, First BanCorp. currently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Transactions at First BanCorp.

In other news, EVP Nayda Rivera sold 25,000 shares of First BanCorp. stock in a transaction on Friday, November 8th. The shares were sold at an average price of $21.19, for a total value of $529,750.00. Following the transaction, the executive vice president now directly owns 236,490 shares of the company’s stock, valued at $5,011,223.10. The trade was a 9.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.50% of the company’s stock.

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.