First BanCorp. (NYSE:FBP – Get Free Report) released its quarterly earnings results on Tuesday. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06, Briefing.com reports. First BanCorp. had a return on equity of 21.58% and a net margin of 25.82%. The business had revenue of $302.49 million during the quarter, compared to analyst estimates of $229.19 million. During the same period last year, the business posted $0.39 earnings per share.
First BanCorp. Stock Up 3.2 %
Shares of NYSE FBP opened at $17.71 on Thursday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.77 and a quick ratio of 0.76. The business has a 50-day moving average of $16.93 and a two-hundred day moving average of $15.93. First BanCorp. has a 1 year low of $10.18 and a 1 year high of $17.74.
First BanCorp. Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.61%. This is an increase from First BanCorp.’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, February 22nd. First BanCorp.’s payout ratio is 36.57%.
Analyst Ratings Changes
Read Our Latest Stock Report on First BanCorp.
Insiders Place Their Bets
In other First BanCorp. news, CEO Aurelio Aleman sold 50,000 shares of First BanCorp. stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $858,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,126,325 shares of the company’s stock, valued at approximately $19,339,000.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Aurelio Aleman sold 50,000 shares of First BanCorp. stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $858,500.00. Following the sale, the chief executive officer now owns 1,126,325 shares in the company, valued at $19,339,000.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Crespo Luz sold 10,000 shares of First BanCorp. stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.47, for a total value of $164,700.00. Following the sale, the director now owns 50,055 shares in the company, valued at approximately $824,405.85. The disclosure for this sale can be found here. Insiders sold 132,600 shares of company stock valued at $2,278,784 in the last ninety days. Insiders own 2.50% of the company’s stock.
About First BanCorp.
First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to consumers and commercial customers. The company operates through six segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
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