First BanCorp. (FBP) Scheduled to Post Quarterly Earnings on Tuesday

First BanCorp. (NYSE:FBP) will release its earnings data before the market opens on Tuesday, April 23rd. Analysts expect First BanCorp. to post earnings of $0.39 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings results on Wednesday, January 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The business had revenue of $299.09 million during the quarter, compared to analysts’ expectations of $227.75 million. First BanCorp. had a net margin of 26.19% and a return on equity of 21.62%. During the same quarter last year, the company posted $0.40 earnings per share. 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 Up 2.9 %

NYSE FBP opened at $16.91 on Monday. The company has a fifty day simple moving average of $16.88 and a two-hundred day simple moving average of $15.87. The stock has a market cap of $2.86 billion, a P/E ratio of 9.95, a P/E/G ratio of 1.53 and a beta of 1.16. First BanCorp. has a 12-month low of $10.18 and a 12-month high of $17.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.44.

First BanCorp. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.16 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from First BanCorp.’s previous quarterly dividend of $0.14. First BanCorp.’s dividend payout ratio (DPR) is currently 37.65%.

Analyst Ratings Changes

A number of research analysts have issued reports on FBP shares. Keefe, Bruyette & Woods raised their price target on shares of First BanCorp. from $18.50 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company raised their price target on shares of First BanCorp. from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th.

Insider Transactions at First BanCorp.

In other news, EVP Michael Mcdonald sold 57,600 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $17.34, for a total value of $998,784.00. Following the sale, the executive vice president now owns 98,501 shares in the company, valued at $1,708,007.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael Mcdonald sold 57,600 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $17.34, for a total value of $998,784.00. Following the sale, the executive vice president now owns 98,501 shares in the company, valued at $1,708,007.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aurelio Aleman sold 50,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the sale, the chief executive officer now owns 1,126,325 shares in the company, valued at approximately $19,339,000.25. The disclosure for this sale can be found here. Insiders have sold 132,600 shares of company stock worth $2,278,784 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of First BanCorp.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBP. West Tower Group LLC acquired a new stake in First BanCorp. during the fourth quarter valued at $32,000. Legal & General Group Plc grew its position in First BanCorp. by 32.4% during the fourth quarter. Legal & General Group Plc now owns 2,863 shares of the bank’s stock valued at $36,000 after buying an additional 700 shares during the period. Lazard Asset Management LLC grew its position in First BanCorp. by 56.1% during the second quarter. Lazard Asset Management LLC now owns 4,296 shares of the bank’s stock valued at $52,000 after buying an additional 1,544 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in First BanCorp. during the second quarter valued at $126,000. Finally, Tower Research Capital LLC TRC grew its position in First BanCorp. by 151.5% during the third quarter. Tower Research Capital LLC TRC now owns 9,453 shares of the bank’s stock valued at $127,000 after buying an additional 5,695 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.