First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates in 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 real estate and construction loans, floor plan financing, and cash and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loan products and related hedging activities; and acquisition and sale of mortgages in the secondary markets. The Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); finance leasing and insurance services. The Treasury and Investments segment engages in the treasury and investment management activities, such as funding and liquidity management. The United States Operations segment offers savings, checking, and money market accounts, as well as retail CDs; and residential mortgages, home equity loans, lines of credit, and term loans, as well as Internet banking, cash management, remote data capture, and automated clearing house transaction services. The Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of December 31, 2020, the company operated 73 branches in Puerto Rico, 11 branches in the U.S. Virgin Islands and British Virgin Islands, and 10 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in Santurce, Puerto Rico.
IPO Year:
Exchange: NYSE
Website: 1firstbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/25/2024 | $25.00 → $24.00 | Outperform | Hovde Group |
| 8/26/2024 | $22.00 | Neutral | Piper Sandler |
| 7/24/2024 | $21.00 → $25.00 | Outperform | Hovde Group |
| 7/9/2024 | $21.00 | Outperform | Raymond James |
| 12/15/2022 | $17.00 → $14.00 | Overweight → Equal Weight | Wells Fargo |
| 4/12/2022 | $17.50 | Outperform | Keefe Bruyette |
| 12/20/2021 | $17.00 | Outperform | Hovde Group |
| 11/9/2021 | $16.00 | Overweight | Wells Fargo |
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024. About First BanCorp. First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico is First Federal Finance Limited Liability Company, a
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $73.7 million, or $0.45 per diluted share, for the third quarter of 2024, compared to $75.8 million, or $0.46 per diluted share, for the second quarter of 2024, and $82.0 million, or $0.46 per diluted share, for the third quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp, commented: "Our third quarter results reflect our commitment to deliver consistent performance and our ability to generate organic capital on the back of a stable environment in our main market. We post
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2024, before the market opens on October 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Wednesday, October 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The c
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $75.8 million, or $0.46 per diluted share, for the second quarter of 2024, compared to $73.5 million, or $0.44 per diluted share, for the first quarter of 2024, and $70.7 million, or $0.39 per diluted share, for the second quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp, commented: "We closed the first half of the year with another quarter of solid operating performance across most franchise metrics and remain highly encouraged by our growth prospects throughout the rest o
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors approved the following capital actions: The declaration of a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on September 13, 2024 to shareholders of record at the close of business on August 29, 2024. A new repurchase program of up to $250 million that could include repurchases of common stock or junior subordinated debentures, which we expect to be executed at management's discretion through the end of the 4th quarter of 2025. This approval is in addition to the $50 million remaining under t
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced the release of its third annual Corporate Sustainability Report, highlighting the Corporation's commitment to environmental stewardship, social responsibility, and ethical governance. This 2023 Corporate Sustainability Report details significant achievements, including the expansion of the Corporation's recycling program, the adoption of a Human Rights Statement, the expansion of initiatives related to diversity, equity and inclusion (DEI), and the launch of the Corporation's multisectoral coastal erosion mitigation program known as "Rescate Costero." "Since our inception, we have a
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the second quarter ended June 30, 2024, before the market opens on July 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, July 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may al
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on June 14, 2024 to shareholders of record at the close of business on May 30, 2024. About First BanCorp. First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico is First Federal Finance Limited Liability Company, a small l
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $73.5 million, or $0.44 per diluted share, for the first quarter of 2024, compared to $79.5 million, or $0.46 per diluted share, for the fourth quarter of 2023, and $70.7 million, or $0.39 per diluted share, for the first quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp., commented: "We continue to successfully navigate the challenging interest rate cycle delivering another quarter of strong operating results. Consistent with our guidance, we grew the loan portfolio for the
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the first quarter ended March 31, 2024, before the market opens on April 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, April 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may
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First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on December 13, 2024 to shareholders of record at the close of business on November 29, 2024. About First BanCorp. First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico is First Federal Finance Limited Liability Company, a
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $73.7 million, or $0.45 per diluted share, for the third quarter of 2024, compared to $75.8 million, or $0.46 per diluted share, for the second quarter of 2024, and $82.0 million, or $0.46 per diluted share, for the third quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp, commented: "Our third quarter results reflect our commitment to deliver consistent performance and our ability to generate organic capital on the back of a stable environment in our main market. We post
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the third quarter ended September 30, 2024, before the market opens on October 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Wednesday, October 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The c
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $75.8 million, or $0.46 per diluted share, for the second quarter of 2024, compared to $73.5 million, or $0.44 per diluted share, for the first quarter of 2024, and $70.7 million, or $0.39 per diluted share, for the second quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp, commented: "We closed the first half of the year with another quarter of solid operating performance across most franchise metrics and remain highly encouraged by our growth prospects throughout the rest o
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors approved the following capital actions: The declaration of a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on September 13, 2024 to shareholders of record at the close of business on August 29, 2024. A new repurchase program of up to $250 million that could include repurchases of common stock or junior subordinated debentures, which we expect to be executed at management's discretion through the end of the 4th quarter of 2025. This approval is in addition to the $50 million remaining under t
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the second quarter ended June 30, 2024, before the market opens on July 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, July 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may al
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on June 14, 2024 to shareholders of record at the close of business on May 30, 2024. About First BanCorp. First BanCorp. is the parent corporation of FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. and British Virgin Islands and Florida, and of FirstBank Insurance Agency, LLC. Among the subsidiaries of FirstBank Puerto Rico is First Federal Finance Limited Liability Company, a small l
First BanCorp. (the "Corporation" or "First BanCorp.") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico ("FirstBank" or "the Bank"), today reported a net income of $73.5 million, or $0.44 per diluted share, for the first quarter of 2024, compared to $79.5 million, or $0.46 per diluted share, for the fourth quarter of 2023, and $70.7 million, or $0.39 per diluted share, for the first quarter of 2023. Aurelio Alemán, President and Chief Executive Officer of First BanCorp., commented: "We continue to successfully navigate the challenging interest rate cycle delivering another quarter of strong operating results. Consistent with our guidance, we grew the loan portfolio for the
First BanCorp (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that it expects to report its financial results for the first quarter ended March 31, 2024, before the market opens on April 23, 2024. First BanCorp will hold a conference call and live webcast to discuss the financial results at 10:00 a.m. Eastern time on Tuesday, April 23, 2024. The call and webcast will be broadcast live over the internet and can be accessed through the Corporation's investor relations website: fbpinvestor.com. Listeners are recommended to go to the website at least 15 minutes prior to the call to download and install any necessary software. The call may
First BanCorp. (the "Corporation") (NYSE:FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared a quarterly cash dividend of $0.16 per share, which represents an increase of 14% or $0.02 per common share compared to its most recent dividend paid in December 2023. The dividend is payable on March 8, 2024 to shareholders of record at the close of business on February 23, 2024. "We are pleased to announce an increase in the quarterly cash dividend payment on the Corporation's common stock from $0.14 to $0.16 per share starting in the first quarter of 2024. The dividend, accompanied by our share buyback program, demonstrates our cont
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10-Q - FIRST BANCORP /PR/ (0001057706) (Filer)
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10-Q - FIRST BANCORP /PR/ (0001057706) (Filer)
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8-K - FIRST BANCORP /PR/ (0001057706) (Filer)
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--First BanCorp. (the “Corporation”) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, announced today that its Board of Directors has declared the following monthly cash dividends on its outstanding shares of Series A through E Noncumulative Perpetual Monthly Income Preferred Stock (the “Preferred Stock”): Series Annual Dividend Rate (%) Monthly Dividend Per Share Outstanding Shares Record Date Payment Date A 7.125% $0.14843750 197,386 January 28, 2021 February 1, 2021 B 8.35% $0.17395800 296,146
Hovde Group reiterated coverage of First Bancorp with a rating of Outperform and set a new price target of $24.00 from $25.00 previously
Piper Sandler resumed coverage of First Bancorp with a rating of Neutral and set a new price target of $22.00
Hovde Group reiterated coverage of First Bancorp with a rating of Outperform and set a new price target of $25.00 from $21.00 previously
Raymond James initiated coverage of First Bancorp with a rating of Outperform and set a new price target of $21.00
Wells Fargo downgraded First Bancorp from Overweight to Equal Weight and set a new price target of $14.00 from $17.00 previously
Keefe Bruyette resumed coverage of First Bancorp with a rating of Outperform and set a new price target of $17.50
Hovde Group initiated coverage of First Bancorp with a rating of Outperform and set a new price target of $17.00
Wells Fargo initiated coverage of First BanCorp with a rating of Overweight and set a new price target of $16.00
Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:FBP) with a Equal-Weight and raises the price target from $19 to $20.
First BanCorp (NYSE:FBP) reported quarterly earnings of $0.46 per share which beat the analyst consensus estimate of $0.41 by 12.2 percent. This is a 24.32 percent increase over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $199.628 million which missed the analyst consensus estimate of $201.414 million by 0.89 percent. This is a 0.09 percent decrease over sales of $199.815 million the same period last year.
The declaration of a quarterly cash dividend of $0.16 per share on its outstanding common stock. The dividend is payable on September 13, 2024 to shareholders of record at the close of business on August 29, 2024. The company expects repurchase to be executed at management's discretion through the end of the 4th quarter of 2025. This approval is in addition to the $50 million remaining under the stock repurchase program announced on July 24, 2023.
Wells Fargo analyst Timur Braziler maintains First BanCorp (NYSE:FBP) with a Equal-Weight and raises the price target from $18 to $19.
Raymond James analyst Daniel Tamayo initiates coverage on First BanCorp (NYSE:FBP) with a Outperform rating and announces Price Target of $21.
Keefe, Bruyette & Woods analyst Kelly Motta maintains First BanCorp (NYSE:FBP) with a Outperform and raises the price target from $19 to $21.
First BanCorp (NYSE:FBP) reported quarterly earnings of $0.44 per share which beat the analyst consensus estimate of $0.37 by 18.92 percent. This is a 12.82 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $196.520 million which missed the analyst consensus estimate of $205.777 million by 4.50 percent. This is a 2.17 percent decrease over sales of $200.885 million the same period last year.
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