First BanCorp. (NYSE:FBP) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

First BanCorp. (NYSE:FBP) issued its quarterly earnings results on Wednesday. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05, Zacks reports. The business had revenue of $258.64 million for the quarter, compared to analysts’ expectations of $263.54 million. First BanCorp. had a net margin of 28.31% and a return on equity of 17.51%. During the same quarter last year, the company posted $0.47 EPS.

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

• Strong profitability: reported net income of $89M ($0.57/sh), up ~21% YoY, with all?time high pre?tax pre?provision income of $131M and a 1.9% ROA (17th consecutive quarter >1.5%).
• Funding strength: core client deposits (excluding broker/public funds) rose ~4.9% on a linked?quarter annualized basis, supporting funding stability and management’s ability to proactively lower funding costs.
• Loan mix pressure: total loans slipped to $13.1B as consumer (auto) demand softened seasonally; management still targets 3%–5% loan growth for 2026 driven by commercial and mortgage pipelines, so execution risk remains.
• Credit quality: asset quality improved—non?performing assets fell, early?stage delinquencies declined ~24% QoQ, charge?offs remained stable at low levels, while the ACL is slightly lower but includes a higher qualitative reserve for Middle East geopolitical risk.
• Capital & investment cadence: the company returned ~92% of earnings via $50M buybacks and $31.5M dividends while maintaining a CET1 ratio of 16.9%, and raised its 2026 quarterly expense base to ~$128M–$130M to fund technology/AI and branch initiatives.

First BanCorp. Price Performance

Shares of FBP traded down $0.41 during trading hours on Friday, reaching $23.93. 54,269 shares of the stock traded hands, compared to its average volume of 1,455,539. The company has a current ratio of 0.80, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. First BanCorp. has a 52-week low of $19.06 and a 52-week high of $24.36. The company’s 50-day moving average price is $21.79 and its two-hundred day moving average price is $21.24. The company has a market cap of $3.73 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.83.

First BanCorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 28th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, May 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. First BanCorp.’s payout ratio is 37.21%.

Wall Street Analysts Forecast Growth

FBP has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of First BanCorp. from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of First BanCorp. in a research note on Tuesday. Hovde Group lifted their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their target price on shares of First BanCorp. from $24.50 to $26.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Truist Financial lifted their target price on shares of First BanCorp. from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.67.

Key First BanCorp. News

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

• Positive Sentiment: Q1 EPS topped estimates and net income grew, driven by strong margins and a solid return on equity — evidence of profitability resilience this quarter. First BanCorp (FBP) Q1 2026 Earnings Call Highlights
• Positive Sentiment: Net interest margin expansion and deposit growth helped offset weaker loan demand, supporting interest income and quarterly earnings. FBP Q1 Deep Dive: Deposit Growth and NIM Expansion Offset Softer Loan Demand
• Positive Sentiment: Wells Fargo raised its price target to $26 and moved to an “overweight” rating, signaling institutional confidence in the outlook and providing potential catalyst for upside. Tickerreport Wells Fargo coverage
• Positive Sentiment: Keefe, Bruyette & Woods also lifted its target to $26 (market perform), adding further analyst support for the stock’s near-term valuation. Benzinga
• Positive Sentiment: The board declared a $0.20 quarterly dividend (ex-div May 28; payable June 12), implying a ~3.3% yield — a shareholder-friendly move that can support the stock’s income appeal. First BanCorp. declares $0.20 dividend
• Neutral Sentiment: Quarterly revenue missed consensus slightly, which tempers the EPS beat and could limit near-term multiple expansion until top-line momentum improves. First BanCorp’s Q1 sales coverage
• Neutral Sentiment: Full earnings materials and the call transcript are available for detail on guidance, credit trends and capital allocation — useful for investors assessing forward prospects. First BanCorp. Q1 presentation Earnings call transcript
• Negative Sentiment: Softer loan demand noted by management is a risk for future loan growth and revenue progression; if loan origination trends persist, it could pressure earnings beyond the benefit from NIM expansion. FBP Q1 Deep Dive

Insider Buying and Selling at First BanCorp.

In other First BanCorp. news, EVP Michael Mcdonald sold 34,122 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.11, for a total value of $754,437.42. Following the sale, the executive vice president owned 62,937 shares in the company, valued at $1,391,537.07. The trade was a 35.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roberto R. Herencia sold 4,723 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $22.63, for a total transaction of $106,881.49. Following the completion of the sale, the director owned 637,019 shares in the company, valued at approximately $14,415,739.97. The trade was a 0.74% decrease in their position. The SEC filing for this sale provides additional information. 1.90% of the stock is owned by insiders.

Institutional Trading of First BanCorp.

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in First BanCorp. by 151.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock worth $39,000 after purchasing an additional 1,129 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock worth $57,000 after buying an additional 2,262 shares during the last quarter. State of Wyoming bought a new stake in shares of First BanCorp. in the 4th quarter worth about $64,000. Cresset Asset Management LLC bought a new stake in shares of First BanCorp. in the 3rd quarter worth about $210,000. Finally, Cerity Partners LLC bought a new stake in shares of First BanCorp. in the 2nd quarter worth about $211,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

First BanCorp. Company Profile

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.