First BanCorp. (NYSE:FBP – Get Free Report) released its earnings results on Tuesday. The bank reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05, Briefing.com reports. The firm had revenue of $304.28 million during the quarter, compared to analyst estimates of $230.26 million. First BanCorp. had a return on equity of 21.86% and a net margin of 25.91%. During the same period last year, the business posted $0.37 earnings per share.
First BanCorp. Stock Up 2.0 %
FBP opened at $21.79 on Friday. The business’s 50-day simple moving average is $18.37 and its 200-day simple moving average is $17.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.77. First BanCorp. has a one year low of $12.72 and a one year high of $22.06. The stock has a market capitalization of $3.63 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.76 and a beta of 1.12.
First BanCorp. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 29th. First BanCorp.’s dividend payout ratio (DPR) is 36.57%.
Insider Transactions at First BanCorp.
Wall Street Analyst Weigh In
FBP has been the subject of a number of recent research reports. Raymond James initiated coverage on First BanCorp. in a report on Tuesday, July 9th. They issued an “outperform” rating and a $21.00 target price for the company. Wells Fargo & Company lifted their price target on First BanCorp. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their price target on First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Hovde Group lifted their price target on First BanCorp. from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.
Read Our Latest Stock Report on First BanCorp.
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.
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