First BanCorp.
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Range $25 – $33
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About the company
First BanCorp. , operating as the holding company for FirstBank Puerto Rico, delivers a broad spectrum of financial services to retail, commercial, and institutional clients. The company's operations are structured into six key segments: Commercial and Corporate Banking, Mortgage Banking, Consumer (Retail) Banking, Treasury and Investments, United States Operations, and Virgin Islands Operations.
- CEO
- Aurelio Aleman-Bermudez
- IPO
- 1987
- Employees
- 3,218
- HQ
- San Juan, PR, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $4.34B
- P/E
- 11.90
- Fwd P/E
- 11.85
- PEG
- 0.44
- P/S
- 3.42
- P/B
- 2.21
- EV/EBITDA
- 8.62
- Div Yield
- 2.67%
- Gross Margin
- 74.77%
- Op Margin
- 35.34%
- Net Margin
- 29.39%
- ROE
- 19.03%
- ROIC
- 1.94%
Latest fiscal year · YoY change
- Revenue
- $1.26B+5.3%
- Gross Profit
- $916.38M+8.6%
- Op Income
- $416.73M
- Net Income
- $344.87M+15.4%
- EPS
- $2.16+18.7%
- OCF Growth
- +10.1%
- FCF Growth
- +10.1%
- 52W High
- $29.88
- 52W Low
- $19.16
- 50D MA
- $27.40
- 200D MA
- $23.24
- Beta
- 0.80
- RSI (14)
- 49
- Avg Volume
- 1.55M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
First Bancorp posted a strong second quarter with record pretax pre-provision income, solid loan growth, and higher margin, while maintaining strong capital and guiding for continued loan and NIM expansion.· July 22, 2026
- Net income was $96.1 million, or $0.63 per diluted share, up from $88 million and $0.57 last quarter; EPS was up 24% year over year on management’s comparison.
- Pretax pre-provision income hit an all-time high of $138 million, and ROA was 2.02%, extending the company’s streak of ROA above 1.5% to 18 quarters.
- Loans reached $13.3 billion, up 5% linked-quarter annualized, with $1.7 billion of originations, and management said pipelines support continued growth.
- Net interest margin improved to 4.87% on a GAAP basis, or about 4.80% excluding fee acceleration, and management now expects 3 to 5 bps of quarterly margin expansion for the rest of 2026.
- Capital remained strong with CET1 at 17%, while the company repurchased $50 million of stock and paid a $0.20 per share dividend.
Second-quarter 2026 net income was $96.1 million, or $0.63 per diluted share, versus $88 million and $0.57 per share last quarter; management said this was up 24% versus the same quarter last year. Pretax pre-provision income was $138 million, up $6 million sequentially and 11% year over year, and ROA was 2.02% versus 1.89% in the prior quarter. Net interest income was $229.1 million versus $221 million last quarter, net interest margin was 4.87% GAAP or about 4.80% excluding fee acceleration, non-interest income was $35.7 million, operating expenses were $127.3 million, and net charge-offs were $16 million, or 49 basis points of average loans, down from 65 basis points. Loans ended at $13.3 billion, total deposit balances rose by $274 million, allowance for credit losses was $145 million or 1.85% of total loans, and CET1 was 17%. Forward guidance: management reaffirmed full-year loan growth guidance of 3% to 5% and expects margin expansion of 3 to 5 basis points per quarter from the 4.80% base for the rest of 2026. It also guided quarterly expenses, excluding OREO gains or losses, to $128 million to $130 million and said the efficiency ratio should be closer to the low end of its 50% to 52% range.
Aurelio Alemán-Bermúdez framed the quarter as another period of strong core performance, broad growth, and disciplined execution. He emphasized accelerating commercial loan growth in Puerto Rico and improving activity in Florida, saying the company sees enough pipeline support to keep activity strong through the rest of the year and reach its 3% to 5% loan-growth target. He also highlighted capital flexibility, ongoing buybacks and dividends, and continued investment in technology, cloud, branches, and AI to improve efficiency and customer experience.
Said Ortiz gave the detailed bridge behind the quarter’s results, noting the $96.1 million of net income, $0.63 diluted EPS, and $138 million of pretax pre-provision income. He said $3.4 million of additional interest income came from two refinancings, and excluding that impact, net income would have been about $93 million or $0.60 per share. He also pointed to a 12 bp sequential NIM increase to 4.87% GAAP, deposit costs down 2 bps overall, expenses of $127.3 million, an efficiency ratio of 48.1%, allowance of $145 million (1.85% of loans), net charge-offs of $16 million, and CET1 remaining strong despite $50 million of buybacks and $31 million of dividends.
Analysts pressed on loan growth mix, margin drivers, deposit competition, capital deployment, expense discipline, and the uptick in early delinquencies. Management said loan growth was mainly commercial, with contributions from CRE, construction, C&I, some government refinancing, and some strength in auto/consumer; it also said the margin benefit came from both asset yield improvement and the investment portfolio repricing, with about $1.2 billion of securities repricing over the next 18 months. On deposits, management said government balances can be volatile but have been broadly stable, while core pricing remains pressured but manageable. On delinquencies, management said the increase looked seasonal and normalized versus the strong first quarter, with no sign it should continue.
The call showed strong operating momentum: record pretax pre-provision income, 2.02% ROA, improving NIM, and loan originations up 21% year over year. Management sounded confident that commercial demand, Florida activity, and supportive conditions in Puerto Rico can sustain loan growth and allow continued capital returns.
Management acknowledged higher early delinquencies, especially in auto and finance leases, and said it is continuing to monitor consumer behavior and broader market conditions. Deposit growth was helped by government balances that can be volatile, and core deposit pricing remains competitive, which could limit funding-cost benefits even as rates evolve.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 96.8%
- Shares Outstanding
- 152.67M
- Float Shares
- 147.74M
of shares held by institutions
303 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for FBP, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Daniel GoldmanHouse · NY10 | Sell | Jul 10, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 22.76M | ▼ 139.41K |
| Vanguard Group Inc | 21.47M | ▲ 413.56K |
| State Street Corp | 9.00M | ▲ 564.55K |
| Dimensional Fund Advisors LP | 7.92M | ▲ 29.27K |
| Vanguard Capital Management LLC | 6.95M | ▼ 22.51K |
| Fmr LLC | 6.04M | ▼ 3.63M |
| American Century Companies Inc | 6.04M | ▼ 120.48K |
| Alliancebernstein L.P. | 5.34M | ▲ 1.37M |
| Geode Capital Management, LLC | 5.13M | ▲ 387.19K |
| Price T Rowe Associates Inc | 5.00M | ▲ 1.21M |
| First Trust Advisors LP | 4.94M | ▲ 78.89K |
| Arrowstreet Capital, Limited Partnership | 3.33M | ▲ 670.41K |
Held by 381 ETFs
Biggest fund positions in FBP by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 17, 26 | RIVERA NAYDA | sell | 10,000 |
| Jun 30, 26 | Berges Gonzalez Orlando | other | 2,518 |
| Jun 30, 26 | Berges Gonzalez Orlando | other | 4,760 |
| Jun 30, 26 | Berges Gonzalez Orlando | other | 4,523 |
| Jun 5, 26 | Diaz-Bento Lilian | sell | 8,000 |
| Mar 31, 26 | Eaves Patricia | other | 1,872 |
| Mar 31, 26 | Eaves Patricia | other | 209 |
| Mar 19, 26 | RIVERA NAYDA | other | 13,576 |
| Mar 21, 26 | RIVERA NAYDA | other | 2,661 |
| Mar 19, 26 | RIVERA NAYDA | other | 13,576 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our FBP coverage
Recent articles, reports, and earnings notes.
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Generate FBP report →Bank of America Corp DE Acquires 294,888 Shares of First BanCorp. $FBP
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First BanCorp (FBP) Shareholder Alert: Investigation of Potential Fiduciary Duty Breaches - Kehoe Law Firm, P.C.
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Why First BanCorp (FBP) is a Top Dividend Stock for Your Portfolio
zacks.com · Jul 29
First BanCorp. (NYSE:FBP) Reaches New 1-Year High – Here’s What Happened
defenseworld.net · Jul 28
Arrowstreet Capital Limited Partnership Increases Stake in First BanCorp. $FBP
defenseworld.net · Jul 28
Dimensional Fund Advisors LP Sells 165,786 Shares of First BanCorp. $FBP
defenseworld.net · Jul 26
First BanCorp (FBP) is a Great Momentum Stock: Should You Buy?
zacks.com · Jul 24
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