OTCPK:FBPR.M

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Adequate balance sheet and fair value.


Similar Companies

Share Price & News

How has First BanCorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.4%

OTCPK:FBPR.M

3.3%

US Banks

2.1%

US Market


1 Year Return

7.0%

OTCPK:FBPR.M

-13.8%

US Banks

-0.04%

US Market

FBPR.M outperformed the Banks industry which returned -14.8% over the past year.

FBPR.M outperformed the Market in United States of America which returned 0.2% over the past year.


Share holder returns

FBPR.MIndustryMarket
7 Day-0.4%3.3%2.1%
30 Day1.0%-7.0%-3.2%
90 Day0.6%-2.3%2.8%
1 Year15.7%7.0%-11.3%-13.8%2.2%-0.04%
3 Year110.3%68.1%42.5%32.7%41.5%32.3%
5 Year53.9%23.0%54.2%37.6%55.0%37.8%

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

No news available

Valuation

Is First BanCorp undervalued based on future cash flows and its price relative to the stock market?

8%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

First BanCorp's share price is below the future cash flow value, but not at a moderate discount (< 20%).

First BanCorp's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

First BanCorp is good value based on earnings compared to the US Banks industry average.

First BanCorp is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

First BanCorp earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

First BanCorp is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is First BanCorp expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

-1.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

First BanCorp's revenue is expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).

First BanCorp's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

First BanCorp's revenue growth is expected to exceed the United States of America market average.

First BanCorp's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.

First BanCorp's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

First BanCorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has First BanCorp performed over the past 5 years?

-12.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First BanCorp's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

First BanCorp's 1-year earnings growth exceeds its 5-year average (192.8% vs -12%)

First BanCorp's earnings growth has exceeded the US Banks industry average in the past year (192.8% vs 33.2%).


Return on Equity

First BanCorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First BanCorp used its assets more efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First BanCorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

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


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First BanCorp has an acceptable proportion of non-loan assets held.

First BanCorp has a low allowance for bad loans.

First BanCorp's liabilities are made up of primarily low risk sources of funding.

First BanCorp's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).

Loans at First BanCorp are broadly funded by customer deposits.

First BanCorp has a high level of bad loans (greater than 2%).


Next Steps

Dividend

What is First BanCorp's current dividend yield, its reliability and sustainability?

1.35%

Expected Dividend Yield


Dividend Yield and Payments Analysis

First BanCorp's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

First BanCorp's dividend is below the markets top 25% of dividend payers in United States of America (3.84%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are thoroughly covered by earnings (11.3x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First BanCorp's salary, the management and board of directors tenure and is there insider trading?

10.0yrs

Average management tenure


CEO

Aurelio Alemán-Bermudez (60yo)

9.9yrs

Tenure

US$4,095,790

Compensation

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

Aurelio's remuneration is about average for companies of similar size in United States of America.

Aurelio's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

10.0yrs

Average Tenure

58yo

Average Age

The average tenure for the First BanCorp management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

5.0yrs

Average Tenure

62yo

Average Age

The tenure for the First BanCorp board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Aurelio Alemán-Bermudez (60yo)

    President

    • Tenure: 9.9yrs
    • Compensation: US$4.10m
  • Cassan Pancham (58yo)

    Executive VP & Business Group Executive

    • Tenure: 16.8yrs
    • Compensation: US$1.11m
  • Nayda Rivera-Batista (46yo)

    Executive VP & Chief Risk Officer

    • Tenure: 17.1yrs
    • Compensation: US$1.31m
  • Orlando Berges-González (61yo)

    Executive VP & CFO

    • Tenure: 10.0yrs
    • Compensation: US$1.58m
  • Lawrence Odell (71yo)

    Executive VP

    • Tenure: 13.5yrs
    • Compensation: US$967.96k
  • Jon Swatsburg (48yo)

    Executive Vice President of Youth Services

    • Tenure: 0.0yrs
  • Cali García-Vélez (51yo)

    Executive VP & Florida Region Executive

    • Tenure: 10.4yrs
    • Compensation: US$1.39m
  • John Pelling

    Investor Relations Officer & Capital Planning Officer

    • Tenure: 6.2yrs
  • Donald Kafka (59yo)

    Executive VP & COO

    • Tenure: 4.6yrs
    • Compensation: US$1.30m
  • Ginoris López-Lay (51yo)

    Executive VP & Strategic Management Director

    • Tenure: 9.4yrs

Board Members

  • Roberto Herencia (59yo)

    Non-Executive Chairman of the Board

    • Tenure: 7.8yrs
    • Compensation: US$1.30m
  • Aurelio Alemán-Bermudez (60yo)

    President

    • Tenure: 9.9yrs
    • Compensation: US$4.10m
  • Robert Gormley (71yo)

    Director

    • Tenure: 6.8yrs
    • Compensation: US$148.92k
  • Juan Reboyras (63yo)

    Director

    • Tenure: 5.0yrs
    • Compensation: US$143.92k
  • José Menéndez-Cortada (72yo)

    Director

    • Tenure: 15.3yrs
    • Compensation: US$125.17k
  • John Heffern (57yo)

    Director

    • Tenure: 1.8yrs
    • Compensation: US$126.42k
  • Tracey Dedrick (62yo)

    Director

    • Tenure: 0.6yrs
  • Luz Crespo (61yo)

    Director

    • Tenure: 4.5yrs
    • Compensation: US$121.42k
  • Daniel Frye (64yo)

    Director

    • Tenure: 1.0yrs
    • Compensation: US$71.25k

Company Information

First BanCorp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First BanCorp.
  • Ticker: FBPR.M
  • Exchange: OTCPK
  • Founded: 1948
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.093b
  • Shares outstanding: 216.64m
  • Website: https://www.1firstbank.com

Number of Employees


Location

  • First BanCorp.
  • First Federal Building
  • 1519 Ponce de León Avenue
  • Santurce
  • Puerto Rico
  • 927
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FBPNYSE (New York Stock Exchange)YesCommon StockUSUSDJan 1987
OLWNDB (Deutsche Boerse AG)YesCommon StockDEEURJan 1987
FBPR.MOTCPK (Pink Sheets LLC)PFD PERP C 7.40%USUSDJul 2001
FBPR.NOTCPK (Pink Sheets LLC)PFD D 7.25%USUSDMar 2002

Biography

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/22 23:37
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.