First BanCorp reports results for the quarter ended in June - Earnings Summary

First Bancorp

23/07/2024 14:52

* First BanCorp  FBP.N  reported quarterly adjusted earnings
of 46
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 38
cents.  The mean expectation of five analysts for the quarter
was for earnings of 41 cents per share. Wall Street expected
results to range from 39 cents to 44 cents per share.
    * Revenue fell 0.1% to $199.63 million from a year ago;
analysts
expected $202.32 million. 
    * First BanCorp's reported EPS for the quarter was 46
cents​.
    * The company reported quarterly net income of $75.84
million.
    * First BanCorp shares had risen by 15.2% this quarter and
gained 28.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for First BanCorp is
$21.00 
This summary was machine generated from LSEG data July 23 at
01:52 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.41           0.46           Beat
 Mar. 31 2024      0.37           0.44           Beat
 Dec. 31 2023      0.36           0.49           Beat
 Sep. 30 2023      0.38           0.46           Beat