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

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

First BanCorp. (NYSE:FBP) last announced its quarterly earnings results on Wednesday, January 24th. The bank reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. The firm 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 earned $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. Stock Up 2.9 %

Shares of FBP opened at $16.91 on Friday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 1.49 and a beta of 1.16. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.44. First BanCorp. has a 12 month low of $10.18 and a 12 month high of $17.70. The company has a 50-day moving average price of $16.88 and a two-hundred day moving average price of $15.84.

First BanCorp. Increases Dividend

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

Insider Activity

In related news, EVP Michael Mcdonald sold 57,600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 98,501 shares in the company, valued at approximately $1,708,007.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nayda Rivera sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.12, for a total value of $256,800.00. Following the completion of the transaction, the executive vice president now owns 246,930 shares in the company, valued at approximately $4,227,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Mcdonald sold 57,600 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $17.34, for a total transaction of $998,784.00. Following the completion of the transaction, the executive vice president now owns 98,501 shares of the company’s stock, valued at approximately $1,708,007.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,600 shares of company stock worth $2,278,784. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. West Tower Group LLC acquired a new stake in First BanCorp. during the 4th quarter worth $32,000. Legal & General Group Plc grew its holdings in First BanCorp. by 32.4% during the 4th quarter. Legal & General Group Plc now owns 2,863 shares of the bank’s stock worth $36,000 after acquiring an additional 700 shares during the period. Lazard Asset Management LLC grew its holdings in First BanCorp. by 56.1% during the 2nd quarter. Lazard Asset Management LLC now owns 4,296 shares of the bank’s stock worth $52,000 after acquiring an additional 1,544 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in First BanCorp. during the 2nd quarter worth $126,000. Finally, Tower Research Capital LLC TRC grew its holdings in First BanCorp. by 151.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,453 shares of the bank’s stock worth $127,000 after acquiring an additional 5,695 shares during the period. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

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

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.