First Bancorp Puerto Rico (FBP) AI Stock Analysis

• Market Cap: $3.58B
• Dividend Yield: 3.17%
• Average Volume (3M): 961.70K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 1.02
• Revenue Growth: 3.10%
• EPS Growth: 3.14%
• Country: US
• Employees: 3,113
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.50
• Shares Outstanding: 160,469,650
• 10 Day Avg. Volume: 1,007,062
• 30 Day Avg. Volume: 961,702
• PEG Ratio: 1.76
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 2.56
• P/FCF Ratio: 7.76
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 3.16
• Enterprise Value/Gross Profit: 4.66
• Enterprise Value/Ebitda: 7.14
• 1Y Price Target: $24.75
• Price Target Upside: 12.14% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 81 Outperform
• Price Target: $24.50 ▲(11.01% Upside)

First Bancorp Puerto Rico's strong financial performance, attractive valuation, and positive earnings call sentiment are the primary drivers of its high score. The technical analysis indicates a positive trend, though caution is advised due to potential overbought conditions. The strategic reorganization further supports the company's future prospects.

First Bancorp Puerto Rico Business Overview & Revenue Model

Company Description

First BanCorp. operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. 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. The Commercial and Corporate Banking segment offers commercial loans, including commercial real estate and construction loans and floor plan financings; and other products, such as cash management and business management services. The Mortgage Banking segment engages in the origination, sale, and servicing of various residential mortgage loans; acquisition and sale of mortgages in the secondary markets; and purchase of mortgage loans from other local banks and mortgage bankers. The Consumer (Retail) Banking segment provides auto, boat, credit card, and personal loans; lines of credit; deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit (CDs); and finance leasing and insurance agency services. The Treasury and Investments segment offers funding and liquidity management services. The United States Operations segment provides checking, savings, and money market accounts, as well as retail CDs; traditional commercial and industrial, and commercial real estate loans; and internet banking, cash management, remote deposit capture, and automated clearing house, and transactions services. The Virgin Islands Operations segment is involved in consumer, commercial lending, and deposit-taking activities. The company operates 64 branches in Puerto Rico, 8 branches in the U.S. Virgin Islands and British Virgin Islands, and 11 branches in the state of Florida. First BanCorp. was founded in 1948 and is headquartered in San Juan, Puerto Rico.

How the Company Makes Money

First Bancorp Puerto Rico generates revenue primarily through interest income from loans and advances, which constitute a significant portion of its earnings. The bank offers various loan products, including personal loans, mortgages, and commercial loans, and earns interest from these loans over time. Additionally, FBP earns non-interest income through fees for services such as account maintenance, transaction services, and wealth management. The company also invests in securities, generating income from interest and dividends. Strategic partnerships with local businesses and government entities further enhance its service offerings, contributing to customer retention and revenue stability.

First Bancorp Puerto Rico Financial Statement Overview

Summary

First Bancorp Puerto Rico's financial performance is commendable with consistent revenue growth, strong profitability, and efficient cash flow management. While leverage is low, maintaining equity levels and addressing slight declines in gross profit margins can further strengthen its financial health. The company is well-positioned in the regional banking sector with its solid financial foundation.

Income Statement

First Bancorp Puerto Rico has shown strong revenue growth and profitability. The TTM revenue grew by 0.8% compared to 2024, and the net profit margin for TTM is 25.15%, indicating robust earnings. The company maintains healthy EBIT and EBITDA margins, demonstrating operational efficiency. However, the gross profit margin slightly decreased, which might require attention.

Balance Sheet

The company has a strong balance sheet with a low debt-to-equity ratio of 0.19 in TTM, showing low leverage and a stable financial position. The return on equity is healthy at 16.99% for TTM, reflecting effective management in generating returns for shareholders. However, the equity ratio is moderate at 9.31%, suggesting a need for maintaining sufficient equity levels.

Cash Flow

First Bancorp Puerto Rico demonstrates strong cash flow management. The free cash flow to net income ratio is excellent at 1.28 for TTM, indicating efficient conversion of net income into cash flows. The operating cash flow to net income ratio stands at 1.30, reflecting solid cash generation. Though the free cash flow growth rate is negative compared to the previous year, overall cash management remains robust.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	933.08M	1.19B	1.12B	953.89M	882.02M	770.14M
Gross Profit	632.96M	843.72M	830.16M	858.16M	882.53M	506.49M
EBITDA	413.30M	416.20M	425.67M	478.69M	464.19M	142.09M
Net Income	306.67M	298.72M	302.86M	305.07M	281.02M	102.27M
Balance Sheet
Total Assets	18.90B	19.29B	18.91B	18.63B	20.79B	18.79B
Cash, Cash Equivalents and Short-Term Investments	5.23B	5.72B	5.89B	6.00B	8.68B	5.80B
Total Debt	320.00M	561.70M	661.70M	933.89M	683.76M	923.76M
Total Liabilities	17.05B	17.62B	17.41B	17.31B	18.68B	16.52B
Stockholders Equity	1.85B	1.67B	1.50B	1.33B	2.10B	2.28B
Cash Flow
Free Cash Flow	410.18M	394.14M	340.36M	420.03M	386.37M	281.67M
Operating Cash Flow	418.43M	404.15M	362.96M	440.49M	399.72M	297.74M
Investing Cash Flow	150.22M	136.23M	-78.45M	-681.46M	-1.26B	-1.24B
Financing Cash Flow	-418.21M	-44.13M	-101.85M	-1.82B	1.91B	1.79B

First Bancorp Puerto Rico Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBP, the sentiment is Positive. The current price of 22.07 is above the 20-day moving average (MA) of 21.99, above the 50-day MA of 21.47, and above the 200-day MA of 19.89, indicating a bullish trend. The MACD of 0.17 indicates Positive momentum. The RSI at 54.20 is Neutral, neither overbought nor oversold. The STOCH value of 76.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBP.

First Bancorp Puerto Rico Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FBP	81 Outperform	$3.58B	11.89	18.38%	3.17%	3.10%	3.14%
INDB	79 Outperform	$3.54B	16.03	6.13%	3.30%	3.67%	-10.83%
OFG	78 Outperform	$1.99B	10.53	14.59%	2.46%	4.15%	4.39%
FULT	71 Outperform	$3.44B	11.07	9.73%	3.76%	17.61%	1.89%
CATY	71 Outperform	$3.36B	11.72	10.05%	2.80%	-0.17%	-0.29%
EBC	60 Neutral	$3.88B	-58.02	-1.71%	2.73%	4.80%	-111.49%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

First Bancorp Puerto Rico Corporate Events

First BanCorp Announces Strategic Reorganization and Leadership Change

On June 16, 2025, First BanCorp announced a strategic reorganization as part of its corporate succession plan, which includes the retirement of COO Donald Kafka on September 15, 2025, and the appointment of Juan Carlos Pavía as his successor effective August 1, 2025. This reorganization is expected to impact the company’s operations by having Mr. Pavía, who has extensive experience in the banking industry, oversee various critical areas, potentially strengthening First BanCorp’s industry positioning.

First Bancorp Puerto Rico Stockholders Approve Key Proposals

At the Annual Meeting of Stockholders held on May 21, 2025, First BanCorp Puerto Rico’s stockholders voted on several key proposals. Notably, the election of directors saw most nominees receiving strong support, while the executive compensation for 2024 was approved on a non-binding basis. Additionally, the appointment of Crowe LLP as the independent registered public accounting firm for the 2025 fiscal year was ratified.