First BanCorp. (FBP) Expected to Announce 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. Individual that wish to register for the company’s earnings conference call can do so using this link.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $234.57 million during the quarter, compared to the consensus estimate of $238.51 million. First BanCorp. had a net margin of 24.94% and a return on equity of 19.91%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Trading Up 0.9 %

NYSE FBP opened at $19.59 on Tuesday. First BanCorp. has a 52 week low of $15.35 and a 52 week high of $22.40. The stock’s 50 day moving average price is $19.75 and its two-hundred day moving average price is $20.17. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.59 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. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 3.27%. First BanCorp.’s dividend payout ratio is presently 35.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FBP shares. Hovde Group cut their target price 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. Wells Fargo & Company lowered their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Piper Sandler decreased their price target 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. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First BanCorp. from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.20.

Insider Buying and Selling 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 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 approximately $5,011,223.10. The trade was a 9.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.50% of the company’s stock.

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.