First BanCorp. (FBP) Projected to Post Quarterly Earnings on Thursday

First BanCorp. (NYSE:FBP - Get Free Report) is expected to release its earnings data before the market opens on Thursday, January 23rd. Analysts expect First BanCorp. to post 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 - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. First BanCorp. had a return on equity of 19.91% and a net margin of 24.94%. The company had revenue of $234.57 million for the quarter, compared to analysts' expectations of $238.51 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. 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 Down 0.2 %

Shares of NYSE FBP traded down $0.04 during trading on Thursday, reaching $19.40. The stock had a trading volume of 853,556 shares, compared to its average volume of 921,536. The business's 50-day moving average price is $19.83 and its 200-day moving average price is $20.13. First BanCorp. has a fifty-two week low of $15.15 and a fifty-two week high of $22.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $3.18 billion, a P/E ratio of 10.72, a PEG ratio of 1.59 and a beta of 1.14.

First BanCorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 3.30%. First BanCorp.'s dividend payout ratio (DPR) is presently 35.36%.

Insider Buying and Selling

In other news, EVP Nayda Rivera sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $21.19, for a total value 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 $5,011,223.10. This trade represents a 9.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on FBP. Hovde Group lowered their price objective on First BanCorp. from $25.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Wells Fargo & Company reduced their price objective on shares of First BanCorp. from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Piper Sandler lowered their target price on shares of First BanCorp. from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods raised their price target on First BanCorp. from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, First BanCorp. presently has a consensus rating of "Moderate Buy" and an average target price of $22.20.

About First BanCorp.

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.