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First Bancorp (NYSE: FBP) |
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Price: $20.5300
$-0.20 
-0.965%
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| Day's High:
| $21.11
| Week Perf:
| 4.37 %
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| Day's Low: |
$ 20.40 |
30 Day Perf: |
11.7 % |
| Volume (M): |
1,357 |
52 Wk High: |
$ 22.40 |
| Volume (M$): |
$ 27,865 |
52 Wk Avg: |
$18.92 |
| Open: |
$21.11 |
52 Wk Low: |
$15.96 |
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| Market Capitalization (Millions $) |
3,364 |
| Shares
Outstanding (Millions) |
164 |
| Employees |
1,400 |
| Revenues (TTM) (Millions $) |
869 |
| Net Income (TTM) (Millions $) |
303 |
| Cash Flow (TTM) (Millions $) |
100 |
| Capital Exp. (TTM) (Millions $) |
11 |
First Bancorp
First BanCorp. is a publicly owned financial holding company that is subject
to regulation, supervision and examination by the Federal Reserve Board. The
Corporation was incorporated under the laws of the Commonwealth of Puerto Rico
to serve as the bank holding company for FirstBank. The Corporation is a full
service provider of financial services and products with operations in Puerto
Rico, the United States and the USVI and BVI.
The Corporation provides a wide range of financial services for retail, commercial
and institutional clients. FirstBank is a Puerto Rico-chartered commercial bank,
and FirstBank Insurance Agency is a Puerto Rico-chartered insurance agency.
FirstBank is subject to the supervision, examination and regulation of both
the Office of the Commissioner of Financial Institutions (“OCIF”)
and the FDIC. Deposits are insured through the FDIC Deposit Insurance Fund.
In addition, within FirstBank, the Bank’s USVI operations are subject
to regulation and examination by the United States Virgin Islands Banking Board;
its BVI operations are subject to regulation by the British Virgin Islands Financial
Services Commission; and its operations in the state of Florida are subject
to regulation and examination by the Florida Office of Financial Regulation
and the FDIC. The Consumer Financial Protection Bureau (“CFBP”)
regulates FirstBank’s consumer financial products and services. FirstBank
Insurance Agency is subject to the supervision, examination and regulation of
the Office of the Insurance Commissioner of the Commonwealth of Puerto Rico
and operates three offices in Puerto Rico, and two offices in the USVI and BVI.
FirstBank conducts its business through its main office located in San Juan,
Puerto Rico, 51 banking branches in Puerto Rico, 11 branches in the USVI and
BVI, and 10 branches in the state of Florida (USA). FirstBank has 6 wholly owned
subsidiaries with operations in Puerto Rico: First Federal Finance Corp. (d/b/a
Money Express La Financiera), a finance company specializing in the origination
of small loans with 27 offices in Puerto Rico; First Management of Puerto Rico,
a domestic corporation, which holds tax-exempt assets; FirstBank Puerto Rico
Securities Corp., a broker-dealer subsidiary engaged in municipal securities
underwriting and selling for local Puerto Rico municipal bond issuers and other
investment bearing activities, such as advisory services, capital raise efforts
on behalf of clients and assist in financial transaction structuring; FirstBank
Overseas Corporation, an international banking entity organized under the International
Banking Entity Act of Puerto Rico; and two other companies that hold and operate
certain particular other real estate owned properties. FirstBank had one active
subsidiary with operations outside of Puerto Rico: First Express, a finance
company specializing in the origination of small loans with 2 offices in the
USVI.
Company Address: 1519 Ponce de León Avenue San Juan 908
Company Phone Number: 729-8200 Stock Exchange / Ticker: NYSE FBP
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| Stock Performances by Major Competitors |
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| First Bancorp
First Bancorp: A Year-to-Date Performance Analysis
As of the latest reports, First Bancorp (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has demonstrated impressive financial results that have allowed its shares to outperform the broader market. This article delves into the company?s recent performance, analysing key metrics and strategic actions that position First Bancorp favorably for continued growth and value creation for shareholders.
Financial Highlights
From April to June 30, 2024, First Bancorp recorded a notable increase in net income and revenue, despite a competitive landscape. The company reported net income of $75.8 million, translating to earnings of $0.46 per diluted share, which marks a 17.95% rise in income compared to the previous year?s Q2, when earnings were $0.39 per share. The modest revenue growth of 2.901% to $220.06 million, compared to the same quarter last year, indicates a steady operational performance.
Additionally, when compared to the first quarter of 2024, both revenue and income showed incremental improvements?revenue grew by 0.79% (up from $218.34 million), and income increased by 4.55% (from $0.44 per share). Together, these figures reflect a solid trajectory for First Bancorp, even though its growth is slightly lagging behind its regional banking peers, which experienced an average business rise of 5.36% relative to the second quarter of 2023.
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| Business Update
Published Tue, Jul 23 2024 8:47 AM UTC
First BanCorp, the bank holding company for FirstBank Puerto Rico, recently announced a series of capital actions aimed at strengthening its financial position and driving long-term growth. This article provides an interpretation of these actions, which include the declaration of a cash dividend and the initiation of a repurchase program. By examining the facts presented, r...
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| Business Update
Published Tue, Jul 2 2024 3:45 AM UTC
First BanCorp Showcases Commitment to Sustainable Future with 2023 Corporate Sustainability Report San Juan, Puerto Rico - First BanCorp (the Corporation) (NYSE: FBP), the bank holding company for FirstBank Puerto Rico, has proudly released its 2023 Corporate Sustainability Report. As the third annual edition, this report reinforces the Corporation s dedication to environmen...
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| First Bancorp
First Bancorp's recent financial report for the first quarter of 2024 has shown remarkable growth and resilience in the face of industry-wide challenges. Despite the Regional Banks sector experiencing a downturn, First Bancorp has defied the odds and demonstrated a substantial revenue increase of 0.2% to $218.34 million. This impressive growth outshines its peers in the industry, who have reported top-line reductions.
Not only has First Bancorp seen a positive revenue surge, but its income per share has also shown an impressive growth of 12.82% year on year, reaching $0.44. This highlights the company's strong performance and its ability to deliver value to its shareholders. Moreover, the net earnings of $73.458 million in the most recent fiscal period represent a 3.9% increase from the previous year, showcasing the company's consistent growth trajectory.
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| First Ban Corp
First BanCorp (FBP) is a bank holding company for FirstBank Puerto Rico, and it recently reported its financial performance for the fiscal fourth quarter and year ended December 31, 2023. The company's earnings per share (EPS) improved by 18.73% to $0.47 per share in the fourth quarter, while revenue declined by -3.637% to $211.48 million, year on year.
Comparing these numbers to the previous financial reporting period, revenue decreased by -6.271% from $225.63 million, while income improved by 3.24% from $0.46 per share. Net profits in the fiscal fourth quarter of 2023 increased by 8.63% from $73.174 million to $79.489 million.
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| Per Share |
Current |
| Earnings (TTM) |
1.82 $ |
| Revenues (TTM) |
5.31 $
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| Cash Flow (TTM) |
0.61 $ |
| Cash |
34.06 $
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| Book Value |
10.38 $
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| Dividend (TTM) |
0.62 $ |
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| Per Share |
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| Earnings (TTM) |
1.82 $
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| Revenues (TTM) |
5.31 $ |
| Cash Flow (TTM) |
0.61 $ |
| Cash |
34.06 $
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| Book Value |
10.38 $ |
| Dividend (TTM) |
0.62 $ |
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| Mortgage Banking Segment |
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 7.75 % |
of total Revenue |
| Consumer Retail Banking Segment |
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76.51 % |
of total Revenue |
| Commercial And Corporate Segment |
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11.24 % |
of total Revenue |
| Treasury And Investments Segment |
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-0.64 % |
of total Revenue |
| United States Operations Segment |
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9.1 % |
of total Revenue |
| Virgin Islands Operations Segment |
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2.99 % |
of total Revenue |
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2.5%