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

First BanCorp. (NYSE:FBP) announced a quarterly dividend on Monday, January 26th. Stockholders of record on Thursday, February 26th will be given a dividend of 0.20 per share by the bank on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Thursday, February 26th. This is a 11.1% increase from First BanCorp.’s previous quarterly dividend of $0.18.

First BanCorp. has increased its dividend payment by an average of 0.4%per year over the last three years and has raised its dividend every year for the last 6 years. First BanCorp. has a payout ratio of 33.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First BanCorp. to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 34.3%.

First BanCorp. Price Performance

Shares of FBP stock traded up $0.23 during mid-day trading on Monday, reaching $20.89. The stock had a trading volume of 1,232,115 shares, compared to its average volume of 1,292,617. The company has a market cap of $3.30 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 1.15 and a beta of 0.88. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $20.80 and a 200 day simple moving average of $21.10. First BanCorp. has a 12-month low of $16.40 and a 12-month high of $22.60.

First BanCorp. (NYSE:FBP) last posted its earnings results on Wednesday, October 22nd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. First BanCorp. had a net margin of 26.73% and a return on equity of 17.45%. The firm had revenue of $248.71 million during the quarter, compared to the consensus estimate of $256.25 million. During the same quarter in the prior year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that First BanCorp. will post 1.85 earnings per share for the current 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.