First BanCorp. (FBP) Set to Announce Quarterly Earnings on Friday

First BanCorp. (NYSE:FBP – Get Rating) will post its quarterly earnings results before the market opens on Friday, January 27th. Analysts expect First BanCorp. to post earnings of $0.41 per share 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 – Get Rating) last posted its quarterly earnings data on Tuesday, October 25th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. First BanCorp. had a return on equity of 18.29% and a net margin of 32.11%. The business had revenue of $239.60 million for the quarter, compared to the consensus estimate of $237.86 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. First BanCorp.’s revenue for the quarter was up 11.6% 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. Stock Performance

First BanCorp. stock traded down $0.32 during trading on Tuesday, hitting $13.21. The stock had a trading volume of 927,061 shares, compared to its average volume of 1,186,872. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.20. The stock’s 50 day moving average is $13.66 and its two-hundred day moving average is $14.40. First BanCorp. has a 1 year low of $11.94 and a 1 year high of $16.40. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.15.

First BanCorp. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Friday, November 25th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, November 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.63%. First BanCorp.’s dividend payout ratio is currently 31.17%.

Analyst Ratings Changes

Several research firms have issued reports on FBP. Wells Fargo & Company downgraded First BanCorp. from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 15th. StockNews.com began coverage on First BanCorp. in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Insider Buying and Selling

In related news, EVP Nayda Rivera sold 5,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $15.40, for a total value of $77,000.00. Following the sale, the executive vice president now owns 251,948 shares in the company, valued at $3,879,999.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Shay Capital LLC bought a new position in First BanCorp. in the first quarter valued at $131,000. Toroso Investments LLC bought a new position in First BanCorp. in the third quarter valued at $169,000. Atria Wealth Solutions Inc. bought a new position in First BanCorp. in the second quarter valued at $175,000. Pathstone Family Office LLC bought a new position in First BanCorp. in the third quarter valued at $246,000. Finally, XTX Topco Ltd bought a new position in First BanCorp. in the first quarter valued at $244,000. Institutional investors own 94.38% of the company’s stock.

About First BanCorp.

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First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. 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.