First BanCorp. (NYSE:FBP) Sets New 1-Year High Following Better-Than-Expected Earnings

First BanCorp. (NYSE:FBP) hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $24.14 and last traded at $23.6030, with a volume of 2809912 shares changing hands. The stock had previously closed at $24.04.

The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $258.64 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.47 earnings per share.

First BanCorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Thursday, May 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.80 annualized dividend and a yield of 3.4%. First BanCorp.’s payout ratio is presently 37.21%.

First BanCorp. News Summary

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

• Positive Sentiment: Q1 EPS beat and margin strength: FBP reported Q1 EPS of $0.57, above consensus, driven by net income growth and net interest margin (NIM) expansion that helped offset weaker loan demand. This supports near-term profitability expectations. FBP Q1 Deep Dive: Deposit Growth and NIM Expansion Offset Softer Loan Demand
• Positive Sentiment: Analyst upgrades/price-target increases: Wells Fargo raised its price target to $26 and kept an Overweight rating; Keefe, Bruyette & Woods raised its target to $26 with a Market Perform. Both lifts imply analyst confidence in FBP’s outlook and provide upside relative to the current share level. Benzinga Wells Fargo TP Raise
• Positive Sentiment: Dividend declared: FBP announced a $0.20 quarterly dividend (annualized yield ~3.3%), payable June 12 to holders of record May 28. The payout supports income investors and can underpin the valuation. First BanCorp. declares $0.20 dividend
• Neutral Sentiment: Earnings call / presentations available: Management provided detailed Q1 commentary and a results presentation that outline strategic priorities and drivers (deposits, NIM, loan pipeline). These materials give investors context but contain both positives and cautions. First BanCorp (FBP) Q1 2026 Earnings Call Highlights Q1 Results Presentation
• Negative Sentiment: Softer loan demand and revenue slight miss: While EPS beat, total revenue missed estimates and management noted weaker loan growth — a potential headwind for future top-line momentum if lending conditions don’t improve. FBP Q1 Deep Dive

Wall Street Analyst Weigh In

FBP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of First BanCorp. from $24.50 to $26.00 and gave the stock a “market perform” rating in a report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of First BanCorp. in a report on Tuesday. Truist Financial increased their price target on First BanCorp. from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price objective on First BanCorp. from $24.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Piper Sandler raised their target price on First BanCorp. from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, First BanCorp. presently has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Insider Buying and Selling at First BanCorp.

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

Institutional Investors Weigh In On First BanCorp.

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of First BanCorp. by 151.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,129 shares in the last quarter. First Horizon Corp acquired a new position in First BanCorp. during the fourth quarter worth $40,000. Hantz Financial Services Inc. raised its holdings in First BanCorp. by 1,695.8% during the third quarter. Hantz Financial Services Inc. now owns 2,155 shares of the bank’s stock valued at $48,000 after buying an additional 2,035 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of First BanCorp. by 328.8% in the first 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. Finally, Covestor Ltd boosted its stake in shares of First BanCorp. by 56.7% during the 3rd quarter. Covestor Ltd now owns 3,052 shares of the bank’s stock worth $67,000 after acquiring an additional 1,104 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

First BanCorp. Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.80. The company has a market cap of $3.64 billion, a P/E ratio of 10.40, a P/E/G ratio of 1.94 and a beta of 0.83. The firm has a 50 day moving average price of $21.81 and a 200-day moving average price of $21.25.

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.