First BanCorp. (NYSE:FBP – Get Free Report) announced its earnings results on Tuesday. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06, Briefing.com reports. First BanCorp. had a net margin of 26.19% and a return on equity of 21.62%. The firm had revenue of $302.49 million for the quarter, compared to the consensus estimate of $229.19 million. During the same period last year, the company posted $0.39 EPS.
First BanCorp. Stock Up 1.5 %
Shares of FBP traded up $0.26 during trading hours on Wednesday, hitting $17.42. 71,881 shares of the company were exchanged, compared to its average volume of 1,109,818. First BanCorp. has a 52 week low of $10.18 and a 52 week high of $17.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50 day moving average is $16.90 and its 200-day moving average is $15.92. The company has a market cap of $2.95 billion, a PE ratio of 10.23, a PEG ratio of 1.56 and a beta of 1.16.
First BanCorp. Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.16 dividend. This is a positive change from First BanCorp.’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, February 22nd. First BanCorp.’s payout ratio is currently 37.65%.
Insider Buying and Selling at First BanCorp.
Analyst Upgrades and Downgrades
FBP has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on First BanCorp. from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods raised their target price on First BanCorp. from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th.
Read Our Latest Stock Report on First BanCorp.
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.
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