First BanCorp. (FBP) Expected to Announce Earnings on Thursday

First BanCorp. (NYSE:FBP) is expected to be issuing its quarterly earnings data before the market opens on Thursday, April 24th. Analysts expect the company to announce earnings of $0.44 per share and revenue of $243.08 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

First BanCorp. (NYSE:FBP) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. First BanCorp. had a net margin of 24.37% and a return on equity of 18.89%. During the same period in the prior year, the firm earned $0.46 EPS. 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. Price Performance

FBP opened at $18.02 on Thursday. First BanCorp. has a 1 year low of $16.25 and a 1 year high of $22.40. The stock has a fifty day moving average price of $18.81 and a 200 day moving average price of $19.63. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.34 and a beta of 0.90.

First BanCorp. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a $0.18 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.72 dividend on an annualized basis and a yield of 4.00%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.16. First BanCorp.’s dividend payout ratio is currently 39.78%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised shares of First BanCorp. from an “equal weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods upped their price objective on shares of First BanCorp. from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.40.

Insider Buying and Selling

In related news, EVP Carlos Power sold 45,797 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $20.77, for a total transaction of $951,203.69. Following the completion of the transaction, the executive vice president now owns 186,543 shares of the company’s stock, valued at approximately $3,874,498.11. The trade was a 19.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

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.