First BanCorp. has raised its dividend payment by an average of 41.0% annually over the last three years. First BanCorp. has a dividend payout ratio of 34.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect First BanCorp. to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 34.0%.
First BanCorp. Stock Up 0.6 %
Shares of NYSE FBP opened at $21.89 on Wednesday. First BanCorp. has a 1 year low of $12.72 and a 1 year high of $22.02. The company has a market capitalization of $3.64 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.74 and a beta of 1.12. The company has a 50 day simple moving average of $18.23 and a 200-day simple moving average of $17.36. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.76.
First BanCorp. (NYSE:FBP – Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. First BanCorp. had a net margin of 25.82% and a return on equity of 21.58%. During the same period last year, the company posted $0.37 EPS. On average, equities research analysts predict that First BanCorp. will post 1.75 earnings per share for the current year.
Insider Buying and Selling at First BanCorp.
In related news, EVP Carlos Power sold 5,277 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $18.01, for a total value of $95,038.77. Following the transaction, the executive vice president now owns 255,236 shares of the company’s stock, valued at $4,596,800.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other First BanCorp. news, CFO Gonzalez Orlando Berges sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $17.92, for a total transaction of $1,344,000.00. Following the sale, the chief financial officer now owns 277,020 shares of the company’s stock, valued at $4,964,198.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Carlos Power sold 5,277 shares of First BanCorp. stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $18.01, for a total transaction of $95,038.77. Following the sale, the executive vice president now owns 255,236 shares in the company, valued at $4,596,800.36. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on FBP. Raymond James initiated coverage on First BanCorp. in a research report on Tuesday, July 9th. They set an “outperform” rating and a $21.00 price target for the company. Wells Fargo & Company lifted their price objective on shares of First BanCorp. from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Hovde Group upped their target price on shares of First BanCorp. from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of First BanCorp. from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, First BanCorp. has an average rating of “Moderate Buy” and an average target price of $19.83.
View Our Latest Analysis on FBP
First BanCorp. Company Profile
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.
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