- Net interest income reported at $212.4 million, a 1.5% increase from the previous quarter, surpassing the $207.3 million estimate.
- Total deposits amounted to $16.82 billion, reflecting a slight 0.3% decrease from the last quarter.
- Cash and due from banks saw a significant rise, reaching $1.33 billion, which is a 15% increase quarter-over-quarter.
- Adjusted earnings per share (EPS) stood at 47 cents, showing an improvement from the previous year’s 44 cents, and beating the 43-cent estimate.
- Non-interest income grew by 5.2% year-over-year to $35.7 million, exceeding the $33.5 million expectations.
- Provision for credit losses increased to $24.8 million, up from $12.2 million in the previous year, slightly above the $24.2 million estimate.
- Analyst recommendations include 5 buy ratings, 1 hold, and no sell ratings.
A look at First Bancorp Puerto Rico Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 4.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Analysts at Smartkarma have provided a positive long-term outlook for First Bancorp Puerto Rico, giving high scores in multiple key areas. With a top score of 5 in Dividend and Momentum, the company is seen as displaying strong attributes in terms of dividend payouts and price trends. This suggests a favorable outlook for investors seeking income opportunities and potential capital gains.
Furthermore, First Bancorp Puerto Rico received solid scores of 4 in Value, Growth, and Resilience. These scores indicate that the company is perceived as undervalued, poised for growth, and resilient in the face of challenges. Overall, these scores paint a picture of a company with strong fundamentals and potential for long-term success in the financial market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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