First BanCorp. Announces Quarterly Dividend of $0.20 (NYSE:FBP)

First BanCorp. (NYSE:FBP) declared a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Thursday, May 28th will be given a dividend of 0.20 per share by the bank on Friday, June 12th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, May 28th.

First BanCorp. has raised its dividend by an average of 0.3%per year over the last three years and has increased its dividend annually for the last 6 consecutive years. First BanCorp. has a dividend payout ratio of 37.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First BanCorp. to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 34.3%.

First BanCorp. Trading Down 1.8%

Shares of FBP opened at $23.60 on Thursday. First BanCorp. has a fifty-two week low of $18.74 and a fifty-two week high of $24.14. The business has a 50-day moving average of $21.75 and a 200 day moving average of $21.22. The firm 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 quick ratio of 0.81 and a current ratio of 0.81.

First BanCorp. (NYSE:FBP) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $258.64 million during the quarter, compared to analyst estimates of $263.54 million. First BanCorp. had a net margin of 27.48% and a return on equity of 17.33%. During the same quarter last year, the business earned $0.47 earnings per share. As a group, research analysts forecast that First BanCorp. will post 2.17 EPS for the current year.

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.