First BanCorp. (NYSE:FBP) Announces Quarterly Earnings Results

First BanCorp. (NYSE:FBP) issued its quarterly earnings data on Wednesday. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05, Zacks reports. First BanCorp. had a net margin of 27.48% and a return on equity of 17.33%. The business had revenue of $258.64 million during the quarter, compared to analysts’ expectations of $263.54 million. During the same period 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. Trading Up 0.8%

Shares of NYSE FBP opened at $23.87 on Thursday. The firm has a market cap of $3.72 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.94 and a beta of 0.83. The business has a fifty day simple moving average of $21.75 and a two-hundred day simple moving average of $21.22. First BanCorp. has a twelve month low of $18.74 and a twelve month high of $24.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.15.

First BanCorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Thursday, May 28th will be paid a $0.20 dividend. 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 dividend payout ratio is 37.21%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FBP shares. Piper Sandler reissued a “neutral” rating on shares of First BanCorp. in a research note on Thursday. Truist Financial set a $26.00 target price on First BanCorp. in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of First BanCorp. in a research report on Tuesday. Hovde Group increased their price target on First BanCorp. from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First BanCorp. from $24.00 to $24.50 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.92.

More First BanCorp. News

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

• Positive Sentiment: Q1 EPS beat — First BanCorp reported $0.57 EPS versus the consensus $0.52, and up from $0.47 a year ago, showing earnings strength that beat expectations. First BanCorp (FBP) Tops Q1 Earnings Estimates
• Positive Sentiment: Quarterly dividend declared — the board approved a $0.20 per share quarterly dividend (annualized yield ~3.4%); record and ex-dividend dates set for May 28, payable June 12. This supports income-oriented investors. First BanCorp. declares $0.20 dividend
• Positive Sentiment: Profitability metrics remain solid — Q1 showed a net margin of 27.48% and return on equity of 17.33%, indicating efficient operations and healthy returns on capital. Company press release and materials
• Neutral Sentiment: Earnings call transcript and materials available — management commentary and the slide deck were released (useful for gauging commentary on loan growth, margins, and outlook). Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst previews and coverage — multiple write-ups summarize the quarter and metrics (helpful for consensus reaction and estimates). MSN coverage of Q1 results
• Negative Sentiment: Revenue slightly missed — total revenue of $258.64M came in under the ~$263.5M analyst estimate, which may have tempered enthusiasm despite the EPS beat. Press release / results
• Negative Sentiment: Shares are declining intraday — likely reflecting revenue miss and possible profit-taking after recent gains (FBP is trading near its 12‑month high range and above its 50‑/200‑day averages). Investors may be focusing on top‑line softness and waiting for forward guidance or commentary.

Insider Buying and Selling

In related news, EVP Michael Mcdonald sold 34,122 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $22.11, for a total value of $754,437.42. Following the completion of the sale, the executive vice president owned 62,937 shares of the company’s stock, valued at approximately $1,391,537.07. This trade represents a 35.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $106,881.49. Following the transaction, the director directly owned 637,019 shares in the company, valued at $14,415,739.97. This trade represents a 0.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First BanCorp.

A number of hedge funds have recently modified their holdings of FBP. XTX Topco Ltd boosted its holdings in First BanCorp. by 34.4% in the 4th quarter. XTX Topco Ltd now owns 22,013 shares of the bank’s stock valued at $456,000 after purchasing an additional 5,636 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of First BanCorp. by 25.8% during the 4th quarter. Voloridge Investment Management LLC now owns 725,733 shares of the bank’s stock worth $15,044,000 after buying an additional 148,626 shares during the last quarter. Wellington Management Group LLP raised its position in shares of First BanCorp. by 7.9% during the 4th quarter. Wellington Management Group LLP now owns 797,081 shares of the bank’s stock valued at $16,523,000 after buying an additional 58,670 shares during the period. Tudor Investment Corp ET AL lifted its holdings in First BanCorp. by 57.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 719,566 shares of the bank’s stock valued at $14,917,000 after acquiring an additional 262,168 shares during the last quarter. Finally, Numerai GP LLC lifted its holdings in First BanCorp. by 212.1% in the fourth quarter. Numerai GP LLC now owns 291,643 shares of the bank’s stock valued at $6,046,000 after acquiring an additional 198,195 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About First BanCorp.

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.