First BanCorp reports results for the quarter ended in September 30 - Earnings Summary

Reuters10-23

* First BanCorp reported quarterly adjusted earnings of 45 cents​​ per share for the quarter ended September 30, lower than the same quarter last year, when the company reported EPS of 46 cents. The mean expectation of six analysts for the quarter was for earnings of 41 cents per share. Wall Street expected results to range from 40 cents to 45 cents per share.

* Revenue rose 1.2% to $202.06 million from a year ago; analysts expected $206.98 million.

* First BanCorp's reported EPS for the quarter was 45 cents​.

* The company reported quarterly net income of $73.27 million.

* First BanCorp shares had fallen by 3.6% this quarter and gained 24.0% so far this year.

FORECAST CHANGES

* The mean earnings estimate of analysts had fallen by about 1.6% in the last three months.​

* In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell."

* The average consensus recommendation for the banks peer group is also "buy"

Wall Street's median 12-month price target for First BanCorp is 23.50 This summary was machine generated from LSEG data October 23 at 01:40 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,

MISSED

Sep. 30 2024 0.41 0.45 Beat

Jun. 30 2024 0.41

Mar. 31 2024 0.37

Dec. 31 2023 0.36 0.49 Beat

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