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First Bancorp Puerto Rico (FBP)
NYSE:FBP
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 29, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.43Last Year’s EPS
0.44Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 23, 2025
|% Change Since: -0.05%
|Next Earnings Date:Apr 29, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with record revenue, loan and deposit growth, and successful capital deployment. However, there are challenges with higher credit loss provisions and consumer credit weaknesses. The positive economic outlook and strategic initiatives in place suggest continued growth, but the caution in consumer credit and expenses indicates areas for improvement.Company Guidance
During the First BanCorp Q4 2024 earnings call, the executives provided guidance highlighting strong financial performance and strategic directions for 2025. The company reported a net income of $76 million for the quarter and a pretax pre-provision income growth of 5% to $117 million, driven by net interest margin expansion and disciplined expense management. The return on average assets was 1.56%, with an efficiency ratio of around 52%, aligning with previously set guidance. The balance sheet showed a $303 million growth in total loans, a 9.7% quarter annualized increase, and a 2% sequential rise in core deposits. Nonperforming assets hit a record low of 61 basis points, reflecting stable credit performance. In terms of capital actions, First BanCorp redeemed $50 million of junior debentures and paid $26.3 million in common dividends, maintaining a strong liquidity and capital position. For 2025, the company projects mid-single-digit loan growth and aims to sustain a 100% net payout ratio, including further debenture redemptions and share repurchases. Additionally, a 13% increase in the quarterly dividend to $0.18 per share was announced, reflecting confidence in continued economic growth and operational success.Strong Financial Performance
First BanCorp earned $76 million in net income, with a 5% growth in pretax pre-provision income to $117 million. Return on average assets was 1.56%, and the efficiency ratio was close to 52%.
Loan and Deposit Growth
Total loans grew by $303 million or 9.7% annualized, with significant growth in consumer, commercial, and mortgage segments. Core deposits increased 2% sequentially and 4% including government deposits.
Record Revenue and Asset Quality
Achieved record revenue with a 6% increase in earnings per share. Nonperforming assets reached a multiyear low of 61 basis points of total assets.
Capital Deployment and Dividend Increase
Redeemed $50 million of junior debentures and paid $26.3 million in dividends, with regulatory capital ratios significantly above well-capitalized levels. Announced a 13% increase in quarterly common stock dividend to $0.18 per share.
Positive Economic Environment Forecast
Projected positive economic performance for 2025 with mid-single-digit loan growth and sustained 100% net payout ratio of capital.
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FBP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FBP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $19.41 | $20.54 | +5.82% |
| Oct 23, 2024 | $20.06 | $18.98 | -5.38% |
| Jul 23, 2024 | $20.57 | $21.24 | +3.26% |
| Apr 23, 2024 | $16.67 | $16.60 | -0.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Bancorp Puerto Rico (FBP) report earnings?
First Bancorp Puerto Rico (FBP) is schdueled to report earning on Apr 29, 2025, TBA Not Confirmed.
What is First Bancorp Puerto Rico (FBP) earnings time?
First Bancorp Puerto Rico (FBP) earnings time is at Apr 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FBP EPS forecast?
FBP EPS forecast for the fiscal quarter 2025 (Q1) is 0.43.
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