First BanCorp. (NYSE:FBP) Releases Earnings Results, Beats Estimates By $0.04 EPS

First BanCorp. (NYSE:FBP) posted its quarterly earnings data on Thursday. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04, FiscalAI reports. The business had revenue of $260.12 million during the quarter, compared to analyst estimates of $274.21 million. First BanCorp. had a net margin of 29.24% and a return on equity of 18.03%.

Here are the key takeaways from First BanCorp.’s conference call:

• Net income was $96.1 million, or $0.63 per share, essentially unchanged sequentially, while year-to-date EPS increased 14% year over year. Return on assets remained strong at 1.98%.
• Loans grew at a 3.3% annualized linked-quarter rate, led by commercial and construction lending, while core customer deposits increased by $120 million. Management said commercial pipelines remain healthy and expects to achieve the lower end of its 3%-5% full-year loan-growth target.
• The board raised the quarterly common dividend by 25% and authorized a $350 million stock-repurchase program; management expects to complete approximately $50 million of additional buybacks in the fourth quarter. CET1 capital remained robust at 16.9%.
• Net interest margin fell 14 basis points to 4.73% as funding costs rose and prior-quarter purchase-accounting benefits did not recur. Management expects core margin to remain roughly stable in the fourth quarter, with loan and securities repricing helping offset continued deposit-cost pressure.
• Although overall credit quality remained healthy, annualized net charge-offs increased to 55 basis points, primarily due to consumer and auto losses, and early-stage delinquencies rose. Management is limiting consumer growth and monitoring inflation, fuel costs, tariffs, and weaker auto sales closely.

First BanCorp. Stock Down 0.1%

Shares of NYSE:FBP opened at $27.32 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.80. First BanCorp. has a 1 year low of $19.16 and a 1 year high of $29.88. The stock has a market capitalization of $4.17 billion, a P/E ratio of 11.53, a PEG ratio of 1.04 and a beta of 0.84. The stock has a 50-day simple moving average of $27.60 and a 200-day simple moving average of $26.23.

First BanCorp. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.20. First BanCorp.’s dividend payout ratio is presently 33.76%.

Insider Buying and Selling

In related news, Director Roberto Herencia sold 26,350 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $28.48, for a total transaction of $750,448.00. Following the completion of the sale, the director owned 610,669 shares of the company’s stock, valued at approximately $17,391,853.12. This represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nayda Rivera sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $28.19, for a total transaction of $281,900.00. Following the completion of the transaction, the executive vice president owned 230,398 shares in the company, valued at $6,494,919.62. The trade was a 4.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,350 shares of company stock valued at $1,328,248. Corporate insiders own 1.90% of the company’s stock.

First BanCorp. News Summary

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

• Positive Sentiment: Quarterly earnings were $0.63 per share, exceeding the $0.59 analyst consensus and rising from $0.51 a year earlier. The bank also reported an 18.03% return on equity and a 29.24% net margin. First BanCorp Q3 Earnings Surpass Estimates
• Positive Sentiment: First BanCorp. raised its quarterly dividend 25%, from $0.20 to $0.25 per share. The new payout equals $1.00 annually and represents an indicated yield of about 3.7%, supporting the stock’s income appeal. First BanCorp Earnings Report
• Neutral Sentiment: Management held its third-quarter earnings call with analysts, providing additional discussion of the quarter’s financial performance and outlook. Investors will focus on commentary about credit quality, loan growth, funding costs and future profitability. First BanCorp Q3 2026 Earnings Call Transcript
• Negative Sentiment: Revenue was $260.12 million, below the $274.21 million consensus estimate. The top-line miss may be weighing on the shares despite the stronger-than-expected EPS result. First BanCorp Reports Sales Below Estimates

Analyst Ratings Changes

FBP has been the subject of several recent analyst reports. Wells Fargo & Company lowered their target price on shares of First BanCorp. from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, September 29th. Keefe, Bruyette & Woods boosted their price target on First BanCorp. from $27.00 to $31.00 and gave the company a “market perform” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (a-)” rating on shares of First BanCorp. in a research note on Thursday, August 27th. Benchmark increased their price target on First BanCorp. from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Finally, Truist Financial raised their price objective on First BanCorp. from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, First BanCorp. has a consensus rating of “Moderate Buy” and an average target price of $29.86.

About First BanCorp.

First BanCorp. is a bank holding company headquartered in San Juan, Puerto Rico. Its principal subsidiary, FirstBank Puerto Rico, provides a broad range of financial products and services to individuals, businesses and government-related entities. The company’s offerings include consumer and commercial lending, residential mortgages, deposit accounts, cash-management services, credit cards, electronic banking and other financial solutions.

FirstBank serves customers through a network of branches, automated teller machines and digital banking channels.