First BanCorp. (NYSE:FBP – Get Free Report) posted its quarterly earnings results on Tuesday. The bank reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05, Briefing.com reports. The firm had revenue of $304.28 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.37 earnings per share.
First BanCorp. Trading Up 2.0 %
Shares of NYSE FBP opened at $21.78 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $18.37 and its two-hundred day moving average price is $17.42. The stock has a market capitalization of $3.62 billion, a P/E ratio of 12.45, a PEG ratio of 1.76 and a beta of 1.12. First BanCorp. has a 52-week low of $12.72 and a 52-week high of $22.06.
First BanCorp. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 29th. First BanCorp.’s payout ratio is currently 36.57%.
Insider Transactions at First BanCorp.
Wall Street Analyst Weigh In
A number of research firms have commented on FBP. Keefe, Bruyette & Woods boosted their target price on First BanCorp. from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company upped their target price on First BanCorp. from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Hovde Group upped their target price on First BanCorp. from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Raymond James started coverage on First BanCorp. in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, First BanCorp. presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.
Read Our Latest Report on First BanCorp.
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.
Featured Stories
- Five stocks we like better than First BanCorp.
- What is the Dogs of the Dow Strategy? Overview and Examples
- Is Now the Time to Invest? ServiceNow Stock Sent to New Highs
- ETF Screener: Uses and Step-by-Step Guide
- Leading Healthcare Provider Stock Soars on Earnings Beat
- What Investors Need to Know About Upcoming IPOs
- AstraZeneca Shares Fall Despite EPS Beat and Raised Guidance
Receive News & Ratings for First BanCorp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First BanCorp. and related companies with MarketBeat.com's FREE daily email newsletter.