(FBP) First Bancorp - Overview

Sector: Financial Services | Industry: Banks - Regional | Exchange: NYSE (USA) | Market Cap: 3.449m USD | Total Return: 33.4% in 12m

Mortgages, Consumer Loans, Commercial Loans, Deposits, Treasury

Total Rating 41

Safety 66

Buy Signal 0.54

Banks - Regional
Industry Rotation: +13.6

Market Cap: 3.45B
Avg Turnover: 28.2M USD

ATR: 2.41%
Peers RS (IBD): 30.4

Risk 5d forecast

Volatility29.0%

Rel. Tail Risk-9.68%

Reward TTM

Sharpe Ratio0.92

Alpha6.87

Character TTM

Beta0.784

Beta Downside1.310

Drawdowns 3y

Max DD22.87%

CAGR/Max DD1.38

EPS (Earnings per Share)

EPS CAGR: -44.91%
EPS Trend: -0.9%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 10.02%
Rev. Trend: 90.5%

Last SUE: 2.65
Qual. Beats: 1

Warnings

No concerns identified

Tailwinds

Confidence

Description: FBP First Bancorp

First Bancorp (NYSE: FBP) is the holding company for FirstBank Puerto Rico, delivering a full suite of banking services across six operating segments: Mortgage Banking; Consumer (Retail) Banking; Commercial and Corporate Banking; Treasury and Investments; United States Operations; and Virgin Islands Operations. The firm originated, sold, and serviced residential mortgages, offered consumer credit products such as auto loans and credit cards, provided commercial real-estate financing, managed investment funds, and maintained deposit-taking activities in both Puerto Rico and the U.S. mainland.

In its most recent quarter (Q4 2025), First Bancorp reported total assets of $23.5 billion, a 5 % year-over-year increase in its loan portfolio, and a net interest margin of 3.1 %. Net income rose to $120 million, translating to earnings per share of $0.68 and a return on equity of 9.2 %, while deposits grew 4 % and the company maintained a quarterly dividend of $0.16 per share.

Key drivers for the bank include Puerto Rico’s modest GDP expansion of roughly 2.5 % in 2025, which supports consumer and commercial loan demand, and the broader U.S. regional-bank environment where the Federal Reserve’s higher policy rates have lifted NIMs but also heightened credit-quality scrutiny. Additionally, the gradual decline in mortgage rates from their 2023 peaks is easing pressure on the Mortgage Banking segment’s origination volumes.

For a deeper dive, you might explore the ValueRay platform for additional analysis.

Headlines to Watch Out For

Net interest income growth driven by loan portfolio expansion
Puerto Rico economic stability impacts loan demand and credit quality
Mortgage banking activity fluctuates with interest rates
Regulatory compliance costs affect profitability
US and Virgin Islands operations diversify revenue streams

Piotroski VR‑10 (Strict) 4.0

Net Income: 344.9m TTM > 0 and > 6% of Revenue
FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.26 > 1.0
NWC/Revenue: 50.97% < 20% (prev -928.5%; Δ 979.5% < -1%)
CFO/TA 0.02 > 3% & CFO 451.0m > Net Income 344.9m
Net Debt (-292.8m) to EBITDA (433.2m): -0.68 < 3
Current Ratio: 6.85 > 1.5 & < 3
Outstanding Shares: last quarter (158.4m) vs 12m ago -4.34% < -2%
Gross Margin: 72.48% > 18% (prev 0.71%; Δ 7.18k% > 0.5%)
Asset Turnover: 6.43% > 50% (prev 6.18%; Δ 0.25% > 0%)
Interest Coverage Ratio: 1.22 > 6 (EBITDA TTM 433.2m / Interest Expense TTM 254.2m)

Altman Z'' 0.83

A: 0.03 (Total Current Assets 737.5m - Total Current Liabilities 107.6m) / Total Assets 19.13b
B: 0.12 (Retained Earnings 2.27b / Total Assets 19.13b)
C: 0.02 (EBIT TTM 309.4m / Avg Total Assets 19.21b)
D: 0.11 (Book Value of Equity 1.94b / Total Liabilities 17.17b)
Altman-Z'' Score: 0.83 = B

Beneish M -2.84

DSRI: 0.96 (Receivables 71.4m/71.9m, Revenue 1.24b/1.19b)
GMI: 0.98 (GM 72.48% / 70.74%)
AQI: 1.38 (AQ_t 0.95 / AQ_t-1 0.69)
SGI: 1.04 (Revenue 1.24b / 1.19b)
TATA: -0.01 (NI 344.9m - CFO 451.0m) / TA 19.13b)
Beneish M-Score: -2.84 (Cap -4..+1) = A

What is the price of FBP shares? As of April 11, 2026, the stock is trading at USD 22.64 with a total of 721,630 shares traded.
Over the past week, the price has changed by +2.77%, over one month by +11.03%, over three months by +8.78% and over the past year by +33.37%.

Is FBP a buy, sell or hold? First Bancorp has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy FBP.

StrongBuy: 3
Buy: 2
Hold: 1
Sell: 0
StrongSell: 0

What are the forecasts/targets for the FBP price?

Analysts Target Price	24.8	9.5%

First Bancorp (FBP) - Fundamental Data Overview as of 08 April 2026

P/E Trailing = 10.2465
P/E Forward = 20.7469
P/S = 3.7701
P/B = 1.7212
P/EG = 4.1492
Revenue TTM = 1.24b USD
EBIT TTM = 309.4m USD
EBITDA TTM = 433.2m USD
Long Term Debt = 200.0m USD (from longTermDebt, last quarter)
Short Term Debt = 107.6m USD (from shortTermDebt, last quarter)
Debt = 364.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -292.8m USD (from netDebt column, last quarter)
Enterprise Value = 3.16b USD (3.45b + Debt 364.4m - CCE 657.1m)
Interest Coverage Ratio = 1.22 (Ebit TTM 309.4m / Interest Expense TTM 254.2m)
EV/FCF = 7.17x (Enterprise Value 3.16b / FCF TTM 439.9m)
FCF Yield = 13.94% (FCF TTM 439.9m / Enterprise Value 3.16b)
FCF Margin = 35.60% (FCF TTM 439.9m / Revenue TTM 1.24b)
Net Margin = 27.91% (Net Income TTM 344.9m / Revenue TTM 1.24b)
Gross Margin = 72.48% ((Revenue TTM 1.24b - Cost of Revenue TTM 340.1m) / Revenue TTM)
Gross Margin QoQ = 73.36% (prev 72.96%)
Tobins Q-Ratio = 0.16 (Enterprise Value 3.16b / Total Assets 19.13b)
Interest Expense / Debt = 17.12% (Interest Expense 62.4m / Debt 364.4m)
Taxrate = 18.85% (20.2m / 107.3m)
NOPAT = 251.1m (EBIT 309.4m * (1 - 18.85%))
Current Ratio = 6.85 (Total Current Assets 737.5m / Total Current Liabilities 107.6m)
Debt / Equity = 0.19 (Debt 364.4m / totalStockholderEquity, last quarter 1.97b)
Debt / EBITDA = -0.68 (Net Debt -292.8m / EBITDA 433.2m)
Debt / FCF = -0.67 (Net Debt -292.8m / FCF TTM 439.9m)
Total Stockholder Equity = 1.88b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.79% (Net Income 344.9m / Total Assets 19.13b)
RoE = 18.37% (Net Income TTM 344.9m / Total Stockholder Equity 1.88b)
RoCE = 14.89% (EBIT 309.4m / Capital Employed (Equity 1.88b + L.T.Debt 200.0m))
RoIC = 11.49% (NOPAT 251.1m / Invested Capital 2.19b)
WACC = 9.23% (E(3.45b)/V(3.81b) * Re(8.74%) + D(364.4m)/V(3.81b) * Rd(17.12%) * (1-Tc(0.19)))
Discount Rate = 8.74% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -3.86%
[DCF] Terminal Value 74.98% ; FCFF base≈421.6m ; Y1≈446.3m ; Y5≈530.4m
[DCF] Fair Price = 50.16 (EV 7.52b - Net Debt -292.8m = Equity 7.81b / Shares 155.7m; r=9.23% [WACC]; 5y FCF grow 6.43% → 3.0% )
EPS Correlation: -0.94 | EPS CAGR: -44.91% | SUE: -4.0 | # QB: 0
Revenue Correlation: 90.46 | Revenue CAGR: 10.02% | SUE: 2.65 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.53 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+4 | Analysts=7
EPS current Year (2026-12-31): EPS=2.16 | Chg7d=+0.004 | Chg30d=+0.004 | Revisions Net=+3 | Growth EPS=+7.0% | Growth Revenue=+6.5%
EPS next Year (2027-12-31): EPS=2.36 | Chg7d=+0.002 | Chg30d=+0.002 | Revisions Net=+2 | Growth EPS=+8.9% | Growth Revenue=+4.4%
[Analyst] Revisions Ratio: +1.00 (4 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = -1.0% (Discount Rate 8.7% - Earnings Yield 9.8%)
[Growth] Growth Spread = +7.9% (Analyst 6.9% - Implied -1.0%)

External Resources

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