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Last $6.32 USD
Change Today -0.05 / -0.78%
Volume 1.1M
FBP On Other Exchanges
Symbol
Exchange
New York
Stuttgart
Frankfurt
As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

first bancorp puerto rico (FBP) Snapshot

Open
$6.35
Previous Close
$6.37
Day High
$6.42
Day Low
$6.27
52 Week High
04/16/15 - $6.76
52 Week Low
10/15/14 - $4.46
Market Cap
1.4B
Average Volume 10 Days
752.8K
EPS TTM
$1.84
Shares Outstanding
213.8M
EX-Date
07/30/09
P/E TM
3.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for FIRST BANCORP PUERTO RICO (FBP)

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first bancorp puerto rico (FBP) Details

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. Its Commercial and Corporate Banking segment offers commercial real estate and construction loans, and floor plan financings; and cash management and business management services, as well as underwrites bonds and financial advisory services provided to government entities. The company’s Consumer (Retail) Banking segment provides auto, boat, and personal loans; credit cards; lines of credit; and deposit products comprising interest bearing and non-interest bearing checking and savings accounts, individual retirement accounts, and retail certificates of deposit, as well as engages in the finance leases and insurance activities. Its Mortgage Banking segment is involved in origination, sale, securitization, and servicing ofvarious residential mortgage loan products and related hedging activities; acquisition and sale of mortgages in the secondary markets; and provision of mortgage loans purchased from other local banks and mortgage bankers. The company’s Treasury and Investments segment engages in the treasury and investment management activities, such as funding and liquidity management. Its United States Operations segment offers checking, savings, and money market accounts; and residential mortgages, home equity loans, lines of credit, and automobile loans, as well as Internet banking services, cash management services, remote data capture, and automated clearing house transactions. The company’s Virgin Islands Operations segment is involved in the consumer, commercial lending, and deposit-taking activities. As of March 1, 2015, First BanCorp. operated 54 branches in Puerto Rico, 12 branches in the U.S. Virgin Islands and British Virgin Islands, and 10 branches in the state of Florida. The company was founded in 1948 and is headquartered in Santurce, Puerto Rico.

2,617 Employees
Last Reported Date: 03/16/15
Founded in 1948

first bancorp puerto rico (FBP) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $874.3K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $601.2K
Executive Vice President, General Counsel, Se...
Total Annual Compensation: $551.2K
Executive Vice President of Florida Region an...
Total Annual Compensation: $536.4K
Executive Vice President, Business Group Exec...
Total Annual Compensation: $401.2K
Compensation as of Fiscal Year 2014.

first bancorp puerto rico (FBP) Key Developments

First Bancorp Revises Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

First Bancorp announced that the reversal of a significant portion of the valuation allowance recorded against the deferred tax assets of its subsidiary bank, FirstBank. The reversal results in the recognition of a one-time income tax benefit in the fourth quarter of 2014 of approximately $302.9 million, or $1.42 per diluted share. As a result of this adjustment and the related effect on the deposit insurance premium assessment, the corporation’s results for the fourth quarter and year ended December 31, 2014 are higher than the results announced on February 5, 2015. The company revised consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $129,152,000 against $132,659,000 a year ago. Income before taxes was $29,454,000 against $15,634,000 a year ago. Net income attributable to common stockholders was $330,778,000 against $14,789,000 a year ago. Earnings per diluted share were $1.56 against $0.07 a year ago. For the full year, the company reported net interest income of $518,073,000 against $514,945,000 a year ago. Income before taxes was $91,638,000 against loss before income taxes of $159,323,000 a year ago. Net income attributable to common stockholders was $393,946,000 against net loss attributable to common stockholders of $164,487,000 a year ago. Earnings per diluted share were $1.87 against loss per diluted share of $0.80 a year ago. Tangible book value per common share was $6.02.

First Bancorp Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

First Bancorp announced earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net income of $26.3 million, or $0.12 per diluted share, up 13% compared to $23.2 million in third quarter of 2014 and $47.6 million or $0.07 per share a year ago. Pre-tax, pre-provision income was $49.6 million compared to $47.6 million a year ago. Net interest income was $129.2 million compared to $132.7 million a year ago. Pre-tax net income was $28.4 million compared to $15.6 million a year ago. For the year, the company reported net income of $87.8 million, or $0.42 share, compared to adjusted 2013 net income of $45.4 million; Pre-tax pre-provision income was $206 million compared to $184 million in 2013; At the end of December 31, 2014, book value per common share was $6.25 compared to $6.05 in third quarter of 2014. At the end of December 31, 2014, tangible book value per common share was $6.02 compared to $5.81 in third quarter of 2014.

First Bancorp Elects Luz A. Crespo to Serve as a Director on Corporation and Bank's Board of Directors

On February 4, 2015, the board of directors of First BanCorp. and FirstBank Puerto Rico, the corporation's wholly owned subsidiary bank, elected Ms. Luz A. Crespo to serve as a director on the corporation’s and the bank's board of directors effective as of February 4, 2015. Ms. Crespo has been appointed to serve on the Audit Committee of the Corporation’s and the bank's board of directors.

 

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Industry Analysis

FBP

Industry Average

Valuation FBP Industry Range
Price/Earnings 3.4x
Price/Sales 2.8x
Price/Book 0.8x
Price/Cash Flow 3.4x
TEV/Sales NM Not Meaningful
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