First BanCorp. (NYSE:FBP) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Q1 earnings beat: First BanCorp reported EPS of $0.57 versus consensus $0.52 (up from $0.47 a year ago) with a net margin of 27.48% and ROE of 17.33%, though revenue of $258.6M slightly missed expectations of $263.5M.
• Dividend increase: The board raised the quarterly dividend to $0.20 (annualized $0.80), yielding about 3.4% with a payout ratio near 37.2%, signaling confidence in cash flow.
• Market and analyst view: The stock trades around $23.60 with a P/E of 10.98 and $3.68B market cap; analysts rate it a "Moderate Buy" with a $24.92 consensus target, while insiders have recently sold and institutional ownership is very high (~97.9%).

First BanCorp. (NYSE:FBP - Get Free Report) announced its quarterly earnings data on Wednesday. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05, Zacks reports. First BanCorp. had a net margin of 27.48% and a return on equity of 17.33%. The company had revenue of $258.64 million for the quarter, compared to analysts' expectations of $263.54 million. During the same quarter in the previous year, the company posted $0.47 EPS.

First BanCorp. Stock Performance

First BanCorp. stock opened at $23.60 on Thursday. The firm's 50 day simple moving average is $21.75 and its 200-day simple moving average is $21.22. The company has a market cap of $3.68 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81. First BanCorp. has a fifty-two week low of $18.74 and a fifty-two week high of $24.14.

First BanCorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Thursday, February 26th were issued a $0.20 dividend. The ex-dividend date was Thursday, February 26th. This is a positive change from First BanCorp.'s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. First BanCorp.'s dividend payout ratio is 37.21%.

Wall Street Analyst Weigh In

FBP has been the subject of several recent research reports. Piper Sandler reissued a "neutral" rating and set a $24.00 target price (up from $23.00) on shares of First BanCorp. in a research note on Friday, January 30th. Keefe, Bruyette & Woods upped their price target on First BanCorp. from $24.00 to $24.50 and gave the company a "market perform" rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a "buy (b)" rating on shares of First BanCorp. in a research report on Thursday, January 22nd. Hovde Group increased their price objective on First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, January 28th. Finally, Wells Fargo & Company raised their price objective on First BanCorp. from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.92.

Insider Buying and Selling

In related news, Director Roberto R. Herencia sold 4,723 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $22.63, for a total value of $106,881.49. Following the completion of the sale, the director owned 637,019 shares in the company, valued at approximately $14,415,739.97. This represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Mcdonald sold 34,122 shares of the firm's stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $22.11, for a total transaction of $754,437.42. Following the completion of the transaction, the executive vice president directly owned 62,937 shares of the company's stock, valued at $1,391,537.07. This represents a 35.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by insiders.

Institutional Trading of First BanCorp.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Trust Advisors LP grew its holdings in shares of First BanCorp. by 3.0% during the fourth quarter. First Trust Advisors LP now owns 4,334,297 shares of the bank's stock valued at $89,850,000 after buying an additional 126,532 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in First BanCorp. by 4.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,659,149 shares of the bank's stock worth $75,856,000 after acquiring an additional 171,580 shares in the last quarter. Verition Fund Management LLC boosted its position in First BanCorp. by 31.6% during the 3rd quarter. Verition Fund Management LLC now owns 2,284,146 shares of the bank's stock worth $50,365,000 after acquiring an additional 548,164 shares during the period. Qube Research & Technologies Ltd boosted its position in First BanCorp. by 82.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,434,382 shares of the bank's stock worth $29,878,000 after acquiring an additional 649,987 shares during the period. Finally, Nuveen LLC boosted its position in First BanCorp. by 13.2% during the 4th quarter. Nuveen LLC now owns 1,304,015 shares of the bank's stock worth $27,032,000 after acquiring an additional 152,114 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

Key Headlines Impacting First BanCorp.

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: Q1 earnings beat: FBP reported $0.57 EPS, topping consensus (Zacks/Street) and up from $0.47 a year ago — a clear earnings beat that supports valuation and forward EPS expectations. First BanCorp (FBP) Tops Q1 Earnings Estimates
• Positive Sentiment: Revenues/sales topped estimates, reinforcing the earnings beat and suggesting underlying business momentum for the quarter. First BanCorp’s NYSE: FBP Q1 CY2026 sales top estimates
• Positive Sentiment: Dividend declared: the board approved a $0.20 per-share dividend, supporting income investors and signaling confidence in cash flow. First BanCorp. declares $0.20 dividend
• Neutral Sentiment: Operational metrics: company-reported net margin (~27.5%) and ROE (~17.3%) are strong, which supports profitability narratives but depend on sustainability and guidance. Press Release / Slide Deck
• Neutral Sentiment: Earnings call transcript available — use it to check management commentary on loan growth, credit trends and guidance (key areas that will influence near-term sentiment). First BanCorp. (FBP) Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst/preview coverage and snapshots provide context for expectations — helpful for gauging whether the beat changes consensus for FY26. First BanCorp (FBP) Reports Q1 Earnings: What Key Metrics Have to Say

First BanCorp. Company Profile

First BanCorp NYSE: FBP is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.