First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. More Details
Undervalued with excellent balance sheet.
Share Price & News
How has First BanCorp's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FBP has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FBP underperformed the US Banks industry which returned -28% over the past year.
Return vs Market: FBP underperformed the US Market which returned 19.5% over the past year.
Price Volatility Vs. Market
How volatile is First BanCorp's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 weeks ago | Simply Wall StDoes First BanCorp's (NYSE:FBP) CEO Salary Compare Well With The Performance Of The Company?
1 month ago | Simply Wall StJust Four Days Till First BanCorp. (NYSE:FBP) Will Be Trading Ex-Dividend
2 months ago | Simply Wall StCan You Imagine How First BanCorp's (NYSE:FBP) Shareholders Feel About The 81% Share Price Increase?
Is First BanCorp undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FBP ($5.99) is trading below our estimate of fair value ($9.75)
Significantly Below Fair Value: FBP is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FBP is poor value based on its PE Ratio (12.5x) compared to the US Banks industry average (9.9x).
PE vs Market: FBP is good value based on its PE Ratio (12.5x) compared to the US market (19x).
Price to Earnings Growth Ratio
PEG Ratio: FBP is good value based on its PEG Ratio (0.2x)
Price to Book Ratio
PB vs Industry: FBP is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).
How is First BanCorp forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FBP's forecast earnings growth (52.3% per year) is above the savings rate (2.2%).
Earnings vs Market: FBP's earnings (52.3% per year) are forecast to grow faster than the US market (22.1% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: FBP's revenue (19.9% per year) is forecast to grow faster than the US market (10% per year).
High Growth Revenue: FBP's revenue (19.9% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FBP's Return on Equity is forecast to be low in 3 years time (9.9%).
How has First BanCorp performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FBP has high quality earnings.
Growing Profit Margin: FBP's current net profit margins (20%) are lower than last year (37.9%).
Past Earnings Growth Analysis
Earnings Trend: FBP's earnings have grown by 0.9% per year over the past 5 years.
Accelerating Growth: FBP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FBP had negative earnings growth (-52.8%) over the past year, making it difficult to compare to the Banks industry average (-3%).
Return on Equity
High ROE: FBP's Return on Equity (4.8%) is considered low.
How is First BanCorp's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: FBP's Assets to Equity ratio (6.4x) is low.
Allowance for Bad Loans: FBP has a sufficient allowance for bad loans (157%).
Low Risk Liabilities: 90% of FBP's liabilities are made up of primarily low risk sources of funding.
Loan Level: FBP has an appropriate level of Loans to Assets ratio (64%).
Low Risk Deposits: FBP's Loans to Deposits ratio (85%) is appropriate.
Level of Bad Loans: FBP has a high level of bad loans (2.2%).
What is First BanCorp current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FBP's dividend (3.34%) is higher than the bottom 25% of dividend payers in the US market (1.62%).
High Dividend: FBP's dividend (3.34%) is low compared to the top 25% of dividend payers in the US market (4.66%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FBP has been paying a dividend for less than 10 years.
Growing Dividend: FBP's dividend payments have increased, but the company has only paid a dividend for 2 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.7%), FBP's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FBP's dividends in 3 years are forecast to be well covered by earnings (21.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Aurelio Alemán-Bermudez (61 yo)
Mr. Aurelio Alemán-Bermudez has been the Chief Executive Officer and President of First BanCorp. since September 28, 2009. Mr. Alemán currently serves as Chairman of the Board of Directors and CEO of the C ...
CEO Compensation Analysis
Compensation vs Market: Aurelio's total compensation ($USD3.38M) is about average for companies of similar size in the US market ($USD4.44M).
Compensation vs Earnings: Aurelio's compensation has been consistent with company performance over the past year.
|Executive VP||11.17yrs||US$1.29m||0.18% |
|Executive VP & COO||5.75yrs||US$1.18m||0.098% |
|Executive VP & Chief Risk Officer||18.25yrs||US$1.15m||0.13% |
|Executive VP & Florida Region Executive||11.58yrs||US$1.14m||0.14% |
|Investor Relations Officer & Capital Planning Officer||7.33yrs||no data||no data|
|Executive VP||14.67yrs||US$967.96k||0.098% |
|Executive VP & Business Group Executive||18yrs||US$1.11m||0.15% |
|Executive VP & Strategic Management Director||10.58yrs||no data||0.084% |
|Executive Vice President of Youth Services||no data||no data||no data|
|Executive VP & Business Group Director||8.08yrs||US$712.34k||0.086% |
|Executive VP & Consumer Lending Business Executive||7.5yrs||no data||0.16% |
Experienced Management: FBP's management team is seasoned and experienced (11.1 years average tenure).
|Independent Chairman||9yrs||US$1.05m||0.38% |
|Independent Director||8yrs||US$150.17k||0.041% |
|Independent Director||6.17yrs||US$145.17k||0.030% |
|Independent Director||16.5yrs||US$125.17k||0.048% |
|Independent Director||3yrs||US$130.17k||0.029% |
|Independent Director||1.75yrs||US$163.50k||0.0081% |
|Independent Director||5.67yrs||US$120.17k||0.028% |
|Independent Director||2.17yrs||US$123.50k||0.0096% |
Experienced Board: FBP's board of directors are considered experienced (6.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
First BanCorp.'s company bio, employee growth, exchange listings and data sources
- Name: First BanCorp.
- Ticker: FBP
- Exchange: NYSE
- Founded: 1948
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$1.299b
- Shares outstanding: 216.85m
- Website: https://www.1firstbank.com
Number of Employees
- First BanCorp.
- First Federal Building
- 1519 Ponce de León Avenue
- Puerto Rico
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FBP||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Jan 1987|
|OLWN||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jan 1987|
|FBPR.M||OTCPK (Pink Sheets LLC)||PFD PERP C 7.40%||US||USD||Jul 2001|
|FBPR.N||OTCPK (Pink Sheets LLC)||PFD D 7.25%||US||USD||Mar 2002|
First BanCorp. operates as the bank holding company for FirstBank Puerto Rico that provides a range of financial products and services to retail, commercial, and institutional clients. The company operates ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/20 00:53|
|End of Day Share Price||2020/10/19 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.