First BanCorp. (NYSE:FBP) Sets New 1-Year High on Better-Than-Expected Earnings

Key Points

• First BanCorp. hit a new 52-week high after reporting Q1 EPS of $0.57, beating estimates of $0.52; the stock traded as high as $24.14 on heavy volume.
• Dividend was increased to $0.20 per quarter (annualized $0.80), implying a roughly 3.4% yield and a payout ratio around 37%.
• Analyst sentiment is constructive but insiders sold shares: several firms raised targets (consensus target ≈ $24.92/"Moderate Buy"), while recent insider transactions reduced executive and director holdings.

First BanCorp. (NYSE:FBP - Get Free Report) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $24.14 and last traded at $23.6030, with a volume of 2809912 shares trading hands. The stock had previously closed at $24.04.

The bank reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.05. 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 last year, the company earned $0.47 earnings per share.

First BanCorp. Increases Dividend

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

Trending Headlines about 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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of First BanCorp. from $24.00 to $24.50 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. Hovde Group lifted their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, January 28th. Wells Fargo & Company lifted their target price on shares of First BanCorp. from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Monday, March 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $24.00 target price (up from $23.00) on shares of First BanCorp. in a report on Friday, January 30th. Finally, Truist Financial set a $26.00 target price on shares of First BanCorp. in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, First BanCorp. has an average rating of "Moderate Buy" and a consensus target price of $24.92.

Insiders Place Their Bets

In other news, EVP Michael Mcdonald sold 34,122 shares of First BanCorp. stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.11, for a total value of $754,437.42. Following the transaction, the executive vice president directly owned 62,937 shares of the company's stock, valued at $1,391,537.07. The trade was a 35.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roberto R. Herencia sold 4,723 shares of First BanCorp. stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $22.63, for a total transaction of $106,881.49. Following the completion of the transaction, the director owned 637,019 shares in the company, valued at approximately $14,415,739.97. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On First BanCorp.

A number of hedge funds and other institutional investors have recently bought and sold shares of FBP. EverSource Wealth Advisors LLC grew its position in First BanCorp. by 151.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank's stock valued at $39,000 after buying an additional 1,129 shares during the last quarter. First Horizon Corp purchased a new position in First BanCorp. in the 4th quarter valued at $40,000. Hantz Financial Services Inc. grew its position in First BanCorp. by 1,695.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,155 shares of the bank's stock valued at $48,000 after buying an additional 2,035 shares during the last quarter. Jones Financial Companies Lllp grew its position in First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank's stock valued at $57,000 after buying an additional 2,262 shares during the last quarter. Finally, State of Wyoming purchased a new position in First BanCorp. in the 4th quarter valued at $64,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

First BanCorp. Trading Down 1.8%

The business's 50-day moving average is $21.75 and its two-hundred day moving average is $21.22. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $3.68 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83.

About First BanCorp.

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.

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