First BanCorp. (FBP) to Distribute Quarterly Dividend of $0.25 on December 11th

First BanCorp. (NYSE:FBP) announced a quarterly dividend on Wednesday, October 21st. Shareholders of record on Friday, November 27th will be given a dividend of $0.25 per share by the bank on Friday, December 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 27th. This is a 25.0% increase from First BanCorp.’s previous quarterly dividend of $0.20.

First BanCorp. has increased its dividend payment by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 6 years. First BanCorp. has a payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Analysts expect First BanCorp. to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 30.7%.

First BanCorp. Stock Performance

Shares of NYSE FBP opened at $27.32 on Friday. The stock has a fifty day moving average price of $27.60 and a two-hundred day moving average price of $26.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $4.17 billion, a P/E ratio of 11.53, a PEG ratio of 1.04 and a beta of 0.84. First BanCorp. has a 1 year low of $19.16 and a 1 year high of $29.88.

First BanCorp. (NYSE:FBP) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%. The company had revenue of $260.12 million for the quarter, compared to analysts’ expectations of $274.21 million. Research analysts forecast that First BanCorp. will post 2.40 EPS for the current fiscal year.

First BanCorp. Company Profile

First BanCorp. is a bank holding company headquartered in San Juan, Puerto Rico. Its principal subsidiary, FirstBank Puerto Rico, provides a broad range of financial products and services to individuals, businesses and government-related entities. The company’s offerings include consumer and commercial lending, residential mortgages, deposit accounts, cash-management services, credit cards, electronic banking and other financial solutions.

FirstBank serves customers through a network of branches, automated teller machines and digital banking channels.