Headquartered in San Juan, PR Fiscal year ends December NYSE: FBP 1firstbank.com
First BanCorp. (NYSE: FBP) is the bank holding company for FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. Virgin Islands, and Florida. The company provides a full range of banking services including commercial and consumer lending, mortgage banking, deposit-taking, insurance through FirstBank Insurance Agency, and digital banking services. Its loan portfolio of approximately $13.4 billion spans residential mortgage, commercial and industrial, construction, commercial mortgage, and consumer loan segments. The company serves a diversified deposit base of approximately $16.9 billion, including retail, commercial, and government depositors. First BanCorp. is actively investing in digital banking capabilities and multichannel distribution strategies while maintaining a significant branch network across Puerto Rico. Updated
Management is handing cash back aggressively with a new $350 million buyback, alongside a 25% dividend increase and $50 million of stock already repurchased in the quarter. EPS of $0.63 topped expectations for the fourth straight quarter even as revenue came in below consensus.
FirstBank has raised its dividend four times in five years, but nearly every loan on its books ties back to a single Caribbean island economy with a growing pile of auto delinquencies…
First BanCorp. (NYSE: FBP) is the bank holding company for FirstBank Puerto Rico, a state-chartered commercial bank with operations in Puerto Rico, the U.S. Virgin Islands, and Florida.
The Wall Street consensus 12-month price target for FBP is $31.14.
