First BanCorp. (NYSE:FBP) Sets New 52-Week High Following Better-Than-Expected Earnings

First BanCorp. (NYSE:FBP) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $28.90 and last traded at $27.5580, with a volume of 9253 shares traded. The stock had previously closed at $27.64.

The bank reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The firm had revenue of $264.86 million for the quarter, compared to the consensus estimate of $265.31 million. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%.

First BanCorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 27th. First BanCorp.’s dividend payout ratio (DPR) is 35.56%.

Trending Headlines about First BanCorp.

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

• Positive Sentiment: First BanCorp. beat Q2 expectations, reporting $0.62 EPS versus the $0.54 consensus, while earnings-call coverage highlighted robust growth and strategic initiatives. First BanCorp shares edge higher after second-quarter earnings top expectations (NYSE:FBP)
• Positive Sentiment: The company outlined 2026 loan growth of 3% to 5% and said net interest margin could expand 3 to 5 basis points per quarter, which suggests improving profitability. First BanCorp. outlines 3 percent to 5 percent 2026 loan growth, with margin seen expanding 3 to 5 bps per quarter
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on First BanCorp. (FBP) to $31 from $27, signaling improved valuation expectations even though the rating remains market perform. Benzinga article on price target raise
• Neutral Sentiment: The board also declared a quarterly dividend of $0.20 per share, reinforcing capital return but not likely the main driver of today’s trading. First BanCorp stock page

Analyst Ratings Changes

A number of brokerages have issued reports on FBP. Raymond James Financial upped their price objective on First BanCorp. from $27.00 to $32.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Piper Sandler lifted their target price on First BanCorp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, April 23rd. Weiss Ratings raised shares of First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 1st. Wells Fargo & Company increased their price target on shares of First BanCorp. from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Benchmark raised their price objective on shares of First BanCorp. from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $28.75.

Institutional Investors Weigh In On First BanCorp.

Institutional investors have recently added to or reduced their stakes in the business. Baron Wealth Management LLC increased its stake in shares of First BanCorp. by 22.0% in the second quarter. Baron Wealth Management LLC now owns 18,551 shares of the bank’s stock worth $484,000 after purchasing an additional 3,344 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of First BanCorp. in the first quarter valued at approximately $3,078,000. Bank of America Corp DE lifted its stake in shares of First BanCorp. by 22.1% during the 1st quarter. Bank of America Corp DE now owns 1,630,778 shares of the bank’s stock valued at $34,833,000 after buying an additional 294,888 shares in the last quarter. Edgestream Partners L.P. lifted its stake in shares of First BanCorp. by 46.9% during the 1st quarter. Edgestream Partners L.P. now owns 607,965 shares of the bank’s stock valued at $12,986,000 after buying an additional 193,981 shares in the last quarter. Finally, Amundi boosted its holdings in First BanCorp. by 64.8% in the 1st quarter. Amundi now owns 59,011 shares of the bank’s stock worth $1,261,000 after buying an additional 23,201 shares during the period. 97.91% of the stock is owned by hedge funds and other institutional investors.

First BanCorp. Stock Performance

The company has a market capitalization of $4.46 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.82 and a beta of 0.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average is $25.55 and its 200 day moving average is $23.31.

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.