Welcome to our dedicated page for First Bancorp P R news (Ticker: FBP), a resource for investors and traders seeking the latest updates and insights on First Bancorp P R stock.
First BanCorp. is a Puerto Rico financial holding company and the bank holding company for FirstBank Puerto Rico. News about FBP commonly centers on quarterly earnings, deposit and loan trends, provision for credit losses, regulatory capital levels, common stock dividends, share repurchases, and credit-rating actions tied to its banking franchise.
The company’s operating activities include consumer banking, mortgage banking, commercial and corporate banking, treasury and investments, United States operations, and Virgin Islands operations, with Puerto Rico representing its primary market. Corporate updates also include annual meeting matters and executive leadership disclosures.
First BanCorp (NYSE: FBP) has declared monthly cash dividends for its Series A to E Noncumulative Perpetual Monthly Income Preferred Stock. The dividends are as follows:
- Series A: 7.125% annual rate; $0.1484 per share; 197,386 shares; record date August 27, 2021; payment date August 31, 2021.
- Series B: 8.35% annual rate; $0.1740 per share; 296,146 shares; record date August 15, 2021; payment date August 31, 2021.
- Series C: 7.40% annual rate; $0.1542 per share; 249,852 shares; record date August 15, 2021; payment date August 31, 2021.
- Series D: 7.25% annual rate; $0.1510 per share; 285,522 shares; record date August 15, 2021; payment date August 31, 2021.
- Series E: 7.00% annual rate; $0.1458 per share; 415,240 shares; record date August 15, 2021; payment date August 31, 2021.
First BanCorp. (NYSE: FBP) has declared a quarterly cash dividend of $0.07 per share on its common stock. The payment date is set for September 10, 2021, for shareholders of record as of August 26, 2021. First BanCorp. serves as the bank holding company for FirstBank Puerto Rico and operates in Puerto Rico, Florida, and the Virgin Islands. The press release also indicates that future dividend declarations will depend on the Corporation's financial performance and market conditions, highlighting potential risks associated with future payouts.
First BanCorp. (FBP) reported a net income of $70.6 million or $0.33 per diluted share in Q2 2021, reflecting a significant increase from $21.3 million or $0.09 per share a year ago. This quarter's results included a $26.2 million net benefit recorded due to improvements in macroeconomic forecasts. The bank repurchased 7.96 million shares during the quarter. Despite strong deposit growth, overall loan portfolio declined, attributed mainly to commercial payoffs. Adjusted net income was $78.2 million, indicating ongoing recovery.
First BanCorp (NYSE: FBP) announced it will release its second quarter financial results for the period ending June 30, 2021, on July 23, 2021, before market opening. A conference call and live webcast discussing these results will take place at 10:00 a.m. Eastern time on the same day. Interested parties can access the webcast via the investor relations section of First BanCorp’s website. Replays of the call will be available for a limited time.
First BanCorp operates FirstBank Puerto Rico and has various subsidiaries across multiple regions.
First BanCorp. (NYSE: FBP) announced the declaration of monthly cash dividends for its Series A through E Noncumulative Perpetual Monthly Income Preferred Stock. The annual dividend rates range from 7.00% to 8.35%, with monthly dividends per share between $0.14583330 and $0.17395800. The record date for these dividends is July 15, 2021, and payments will be made on August 2, 2021. The total number of outstanding shares varies by series, with the largest being 415,240 for Series E.
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 monthly dividends per share are as follows: Series A: $0.14843750, Series B: $0.17395800, Series C: $0.15416670, Series D: $0.15104167, and Series E: $0.14583330. The record date for these dividends is set for June 15, 2021, and payment is scheduled for June 30, 2021. This dividend declaration reflects the corporation's ongoing commitment to shareholder returns.
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.