First BanCorp reports results for the quarter ended in September 30 - Earnings Summary

First Bancorp

23/10/2024 14:40

* First BanCorp  FBP.N  reported quarterly adjusted earnings
of 45
cents​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of 46
cents.  The mean expectation of six analysts for the quarter was
for earnings of 41 cents per share. Wall Street expected
results to range from 40 cents to 45 cents per share.
    * Revenue rose 1.2% to $202.06 million from a year ago;
analysts
expected $206.98 million. 
    * First BanCorp's reported EPS for the quarter was 45
cents​.
    * The company reported quarterly net income of $73.27
million.
    * First BanCorp shares had fallen by 3.6% this quarter and
gained 24.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"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
23.50 
This summary was machine generated from LSEG data October 23 at
01:40 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
 Sep. 30 2024      0.41           0.45           Beat
 Jun. 30 2024      0.41                          
 Mar. 31 2024      0.37                          
 Dec. 31 2023      0.36           0.49           Beat