First BanCorp. (FBP) Stock Price, News & Analysis

Company Overview

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. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans, as well as other products, such as cash management and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loans; hedging activities; and purchase of mortgage loans from branch and mortgage bankers. The Consumer (Retail) Banking segment provides auto loans, finance leases, boat and personal loans, credit card loans, and lines of credit; and interest-bearing and non-interest-bearing checking and savings accounts, and individual retirement accounts and retail certificates of deposit (CDs), as well as insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; traditional commercial and industrial, and commercial real estate loans, residential mortgages, term and construction loan, home equity loans, lines of credit, FHLB advances, and brokered CDs; and internet banking, cash management, remote deposit capture, and automated clearing house transactions services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. First BanCorp. was founded in 1948 and is headquartered in San Juan, Puerto Rico.

Key Stats

• Today's Range: $20.58 to $20.90
• 50-Day Range: $19.54 to $21.83
• 52-Week Range: $12.72 to $22.12
• Volume: 3.58 million shs
• Average Volume: 1.06 million shs
• Market Capitalization: $3.44 billion
• P/E Ratio: 11.81
• Dividend Yield: 3.10%
• Price Target: $20.83
• Consensus Rating: Moderate Buy

First BanCorp. Stock Analysis - MarketRank™

First BanCorp. scored higher than 63% of companies evaluated by MarketBeat, and ranked 483rd out of 903 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

First BanCorp. has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings.

Amount of Analyst Coverage

First BanCorp. has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 10.80%

Earnings Growth

Earnings for First BanCorp. are expected to grow by 10.80% in the coming year, from $1.76 to $1.95 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of First BanCorp. is 11.81, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 136.66.

Price to Earnings Ratio vs. Sector

The P/E ratio of First BanCorp. is 11.81, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 46.06.

Price to Earnings Growth Ratio

First BanCorp. has a PEG Ratio of 1.38. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

First BanCorp. has a P/B Ratio of 2.38. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.55% of the float of First BanCorp. has been sold short.

Short Interest Ratio / Days to Cover

First BanCorp. has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in First BanCorp. has recently increased by 17.62%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

First BanCorp. pays a meaningful dividend of 3.21%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

First BanCorp. does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of First BanCorp. is 36.57%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, First BanCorp. will have a dividend payout ratio of 32.82% next year. This indicates that First BanCorp. will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.55% of the float of First BanCorp. has been sold short.

Short Interest Ratio / Days to Cover

First BanCorp. has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in First BanCorp. has recently increased by 17.62%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 0.91

News Sentiment

First BanCorp. has a news sentiment score of 0.91. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.64 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for First BanCorp. this week, compared to 3 articles on an average week.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, First BanCorp. insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,790,066.00 in company stock.

Percentage Held by Insiders

Only 2.50% of the stock of First BanCorp. is held by insiders.

Percentage Held by Institutions

97.91% of the stock of First BanCorp. is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

FBP Stock Analysis - Frequently Asked Questions

How have FBP shares performed this year?

First BanCorp.'s stock was trading at $16.45 at the beginning of the year. Since then, FBP shares have increased by 25.6% and is now trading at $20.66.
View the best growth stocks for 2024 here.

How were First BanCorp.'s earnings last quarter?

First BanCorp. (NYSE:FBP) released its quarterly earnings results on Tuesday, July, 23rd. The bank reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The bank earned $304.28 million during the quarter, compared to analyst estimates of $230.26 million. First BanCorp. had a trailing twelve-month return on equity of 21.86% and a net margin of 25.91%.

Who are First BanCorp.'s major shareholders?

First BanCorp.'s top institutional investors include Dimensional Fund Advisors LP (5.88%), American Century Companies Inc. (4.31%), Bank of New York Mellon Corp (1.83%) and LSV Asset Management (0.97%). Insiders that own company stock include Aurelio Aleman, Roberto R Herencia, Gonzalez Orlando Berges, Nayda Rivera, Carlos Power, Donald Kafka, Michael Mcdonald, John A Heffern, Crespo Luz, Tracey A Dedrick and Patricia Eaves.
View institutional ownership trends.

How do I buy shares of First BanCorp.?

Shares of FBP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of First BanCorp. own?

Based on aggregate information from My MarketBeat watchlists, some other companies that First BanCorp. investors own include General Electric (GE), Freeport-McMoRan (FCX), Intel (INTC), Huntington Bancshares (HBAN), KeyCorp (KEY), AT&T (T) and Energy Transfer (ET).

Company Calendar

• Last Earnings: 7/23/2024
• Ex-Dividend for 9/13 Dividend: 8/29/2024
• Dividend Payable: 9/13/2024
• Today: 9/20/2024
• Next Earnings (Estimated): 10/18/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Finance
• Industry: State commercial banks
• Sub-Industry: Regional Banks
• Current Symbol: NYSE:FBP
• CUSIP: 31867270
• CIK: 1057706
• Web: www.1firstbank.com
• Phone: (787) 729-8200
• Fax: 787-724-5040
• Employees: 3,168
• Year Founded: 1948

Price Target and Rating

• Average Stock Price Target: $20.83
• High Stock Price Target: $25.00
• Low Stock Price Target: $16.00
• Potential Upside/Downside: +0.8%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.60
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.75
• Trailing P/E Ratio: 11.81
• Forward P/E Ratio: 11.74
• P/E Growth: 1.38
• Net Income: $302.86 million
• Net Margins: 25.91%
• Pretax Margin: 32.73%
• Return on Equity: 21.86%
• Return on Assets: 1.68%

Debt

• Debt-to-Equity Ratio: 0.44
• Current Ratio: 0.77
• Quick Ratio: 0.76

Sales & Book Value

• Annual Sales: $892.06 million
• Price / Sales: 3.85
• Cash Flow: $2.05 per share
• Price / Cash Flow: 10.09
• Book Value: $8.68 per share
• Price / Book: 2.38

Miscellaneous

• Outstanding Shares: 166,427,000
• Free Float: 162,266,000
• Market Cap: $3.44 billion
• Optionable: Optionable
• Beta: 1.10