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

First BanCorp. (NYSE:FBP) is expected to be announcing its earnings results before the market opens on Thursday, January 23rd. Analysts expect the company to announce earnings of $0.41 per share and revenue of $236,546.60 billion for the quarter.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $234.57 million during the quarter, compared to the consensus estimate of $238.51 million. First BanCorp. had a return on equity of 19.91% and a net margin of 24.94%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. 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

Shares of FBP opened at $19.47 on Thursday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 10.76, a P/E/G 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 1 year low of $15.15 and a 1 year high of $22.40. The company’s fifty day moving average is $19.86 and its two-hundred day moving average is $20.13.

First BanCorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.29%. First BanCorp.’s dividend payout ratio (DPR) is 35.36%.

Analyst Ratings Changes

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

Insider Buying and Selling

In related 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 sale, the executive vice president now directly owns 236,490 shares in the company, valued at $5,011,223.10. The trade was a 9.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.