First Bancorp P R Stock Price, News & Analysis

First BanCorp. (NYSE: FBP) announced dividend declarations for its Series A through E Preferred Stocks. The monthly dividends per share are: Series A at $0.1484 (7.125%), Series B at $0.1740 (8.35%), Series C at $0.1542 (7.40%), Series D at $0.1510 (7.25%), and Series E at $0.1458 (7.00%). Record dates range from May 15 to May 27, 2021, with payments scheduled for June 1, 2021. This decision reflects the Corporation's ongoing commitment to return value to shareholders through consistent dividend payments.

First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.07 per share on its common stock. This dividend is payable on June 11, 2021, to shareholders of record by May 26, 2021. First BanCorp. serves as the parent corporation of FirstBank Puerto Rico, which operates in Puerto Rico, the U.S. and British Virgin Islands, and Florida, alongside its subsidiaries such as First Federal Finance and First Express. The press release also includes forward-looking statements regarding potential future dividend declarations.

First BanCorp (FBP) reported a net income of $61.2 million ($0.28 per diluted share) for Q1 2021, up from $50.1 million ($0.23 per diluted share) in Q4 2020 and $2.3 million ($0.01 per diluted share) in Q1 2020. The results included a $15.3 million provision benefit related to credit losses. Merger and restructuring costs amounted to $11.3 million during the quarter. Loan origination reached $1.2 billion, with $209 million in new SBA PPP loans. Total deposits rose by $472 million. The firm anticipates increased commercial and construction activity as economic conditions improve.

First BanCorp. (NYSE: FBP) announced a stock repurchase program, allowing up to $300 million to be repurchased through June 30, 2022. The Board's approval reflects the company's robust capital position and commitment to long-term shareholder value. CEO Aurelio Alemán emphasized the bank's focus on efficient operations and profitable growth. The repurchase can occur via open market purchases and private transactions, subject to various factors including market conditions and financial performance. This initiative may also include redemption of $36.1 million of preferred stock.

First BanCorp (NYSE: FBP) announced it will report its first-quarter financial results for the period ending March 31, 2021, on April 26, 2021, before market opening. A conference call and live webcast will follow at 10:00 a.m. Eastern time on the same day, accessible via the Corporation's investor relations webpage. Participants are encouraged to join early to prepare for the session. A replay of the call will be available until May 26, 2021. First BanCorp operates FirstBank Puerto Rico, which provides a range of financial services across various regions including Puerto Rico and the U.S.

First BanCorp. (NYSE: FBP) has announced the declaration of monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows:

• Series A: 7.125% annual dividend rate; $0.14843750 monthly dividend per share.
• Series B: 8.35% annual dividend rate; $0.17395800 monthly dividend per share.
• Series C: 7.40% annual dividend rate; $0.15416670 monthly dividend per share.
• Series D: 7.25% annual dividend rate; $0.15104167 monthly dividend per share.
• Series E: 7.00% annual dividend rate; $0.14583330 monthly dividend per share.

Record dates range from April 15 to April 28, 2021, with payment dates set for April 30, 2021.

First BanCorp. (NYSE: FBP) has declared monthly cash dividends for its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends include: Series A at 7.125% ($0.14843750), Series B at 8.35% ($0.17395800), Series C at 7.40% ($0.15416670), Series D at 7.25% ($0.15104167), and Series E at 7.00% ($0.14583330). Record dates are between March 15 and March 29, 2021, with payment dates set for March 31, 2021. This announcement highlights the Corporation's commitment to returning value to shareholders.

First BanCorp. (NYSE: FBP) has announced the declaration of monthly cash dividends on its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The details are as follows:

• Series A: 7.125% annual rate, $0.14843750 monthly dividend, record date February 25, 2021, payment date March 1, 2021.
• Series B: 8.35% annual rate, $0.17395800 monthly dividend, record date February 15, 2021, payment date March 1, 2021.
• Series C: 7.40% annual rate, $0.15416670 monthly dividend, record date February 15, 2021, payment date March 1, 2021.
• Series D: 7.25% annual rate, $0.15104167 monthly dividend, record date February 15, 2021, payment date March 1, 2021.
• Series E: 7.00% annual rate, $0.14583330 monthly dividend, record date February 15, 2021, payment date March 1, 2021.

First BanCorp. (FBP) reported a strong fourth quarter of 2020 with a net income of $50.1 million, or $0.23 per diluted share, up from $28.6 million in the previous quarter. The year-end net income totaled $102.3 million, a decrease from $167.4 million in 2019 due to COVID-related credit loss reserves. Total loan originations reached $4.4 billion, while organic core deposits grew by $2.0 billion, with the BSPR acquisition contributing $4.1 billion in deposits. Adjusted pre-tax, pre-provision income increased by 6% to $299.8 million for 2020.