First BanCorp. (NYSE:FBP) Releases Earnings Results

First BanCorp. (NYSE:FBP) announced its quarterly earnings data on Thursday. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04, FiscalAI reports. First BanCorp. had a net margin of 28.67% and a return on equity of 18.87%. The company had revenue of $260.12 million for the quarter, compared to the consensus estimate of $274.32 million.

Here are the key takeaways from First BanCorp.’s conference call:

• Net income was $96.1 million, or $0.63 per share, essentially unchanged sequentially, while year-to-date EPS increased 14% year over year. Return on assets remained strong at 1.98%.
• Loans grew at a 3.3% annualized linked-quarter rate, led by commercial and construction lending, while core customer deposits increased by $120 million. Management said commercial pipelines remain healthy and expects to achieve the lower end of its 3%-5% full-year loan-growth target.
• The board raised the quarterly common dividend by 25% and authorized a $350 million stock-repurchase program; management expects to complete approximately $50 million of additional buybacks in the fourth quarter. CET1 capital remained robust at 16.9%.
• Net interest margin fell 14 basis points to 4.73% as funding costs rose and prior-quarter purchase-accounting benefits did not recur. Management expects core margin to remain roughly stable in the fourth quarter, with loan and securities repricing helping offset continued deposit-cost pressure.
• Although overall credit quality remained healthy, annualized net charge-offs increased to 55 basis points, primarily due to consumer and auto losses, and early-stage delinquencies rose. Management is limiting consumer growth and monitoring inflation, fuel costs, tariffs, and weaker auto sales closely.

First BanCorp. Stock Up 0.4%

Shares of NYSE FBP traded up $0.10 during mid-day trading on Friday, reaching $27.41. The company had a trading volume of 2,222,968 shares, compared to its average volume of 1,431,190. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $27.55 and a two-hundred day simple moving average of $26.23. The stock has a market cap of $4.18 billion, a P/E ratio of 11.57, a PEG ratio of 1.04 and a beta of 0.84. First BanCorp. has a 52-week low of $19.16 and a 52-week high of $29.88.

First BanCorp. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, November 27th. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.20. First BanCorp.’s dividend payout ratio (DPR) is currently 33.76%.

Insiders Place Their Bets

In related news, EVP Nayda Rivera sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $28.19, for a total value of $281,900.00. Following the completion of the sale, the executive vice president directly owned 230,398 shares of the company’s stock, valued at $6,494,919.62. This represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roberto R. Herencia sold 26,350 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $28.48, for a total value of $750,448.00. Following the transaction, the director owned 610,669 shares in the company, valued at $17,391,853.12. This represents a 4.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 46,350 shares of company stock valued at $1,328,248. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FBP. Zacks Research downgraded shares of First BanCorp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Raymond James Financial cut First BanCorp. from a “strong-buy” rating to a “moderate buy” rating in a research note on Tuesday, October 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of First BanCorp. in a report on Thursday, August 27th. Keefe, Bruyette & Woods upped their price objective on First BanCorp. from $27.00 to $31.00 and gave the stock a “market perform” rating in a research report on Thursday, July 23rd. Finally, Truist Financial upped their price objective on First BanCorp. from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

Key Stories Impacting First BanCorp.

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Q3 earnings beat expectations: First BanCorp. reported adjusted or GAAP earnings of $0.63 per share, above consensus estimates of $0.58-$0.59 and up from $0.51 a year earlier. The bank also reported a 29.24% net margin and 18.03% return on equity. First BanCorp Q3 Earnings Surpass Estimates
• Positive Sentiment: Dividend raised 25%: The board declared a quarterly dividend of $0.25 per share, up from $0.20, implying a $1.00 annualized payout and approximately a 3.7% yield. The increase supports the stock’s income appeal and signals confidence in capital generation. First BanCorp Dividend and Earnings Report
• Positive Sentiment: Healthy profitability: The quarterly results and management’s earnings call gave investors an opportunity to assess continued operating performance, with profitability metrics remaining robust. First BanCorp Q3 2026 Earnings Call Transcript

About First BanCorp.

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.