First Bancorp reports results for the quarter ended in December - Earnings Summary

First Bancorp

24/01/2024 14:31

* First Bancorp  FBP.N  reported quarterly adjusted earnings
of 49
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of 40
cents.  The mean expectation of five analysts for the quarter
was for earnings of 36 cents per share. Wall Street expected
results to range from 31 cents to 39 cents per share.
    * Revenue fell 4.3% to $196.68 million from a year ago;
analysts
expected $206.11 million. 
    * First Bancorp's reported EPS for the quarter was 46
cents​.
    * The company reported quarterly net income of $79.49
million.
    * First Bancorp shares had fallen by 3.5% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.3%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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
$18.50 
This summary was machine generated from LSEG data January 24 at
02:31 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
 Dec. 31 2023      0.36           0.49           Beat
 Sep. 30 2023      0.38           0.46           Beat
 Jun. 30 2023      0.35           0.38           Beat
 Mar. 31 2023      0.35           0.39           Beat