First BanCorp. to Issue Quarterly Dividend of $0.20 (NYSE:FBP)

First BanCorp. (NYSE:FBP) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Thursday, August 27th will be given a dividend of 0.20 per share by the bank on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, August 27th.

First BanCorp. has raised its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. First BanCorp. has a dividend payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First BanCorp. to earn $2.43 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 32.9%.

First BanCorp. Stock Up 0.6%

FBP stock opened at $27.59 on Wednesday. The firm has a market cap of $4.27 billion, a PE ratio of 12.26, a PEG ratio of 1.73 and a beta of 0.82. First BanCorp. has a 1 year low of $19.16 and a 1 year high of $27.89. The company has a fifty day simple moving average of $25.33 and a 200 day simple moving average of $23.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10.

First BanCorp. (NYSE:FBP) last posted its earnings results on Thursday, April 23rd. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. First BanCorp. had a net margin of 28.31% and a return on equity of 17.51%. The firm had revenue of $258.64 million for the quarter, compared to the consensus estimate of $263.54 million. During the same period in the prior year, the business posted $0.47 earnings per share. Sell-side analysts anticipate that First BanCorp. will post 2.26 EPS for the current fiscal year.

First BanCorp. Company Profile

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.