First BanCorp. (NYSE:FBP) Given New $31.00 Price Target at Keefe, Bruyette & Woods

First BanCorp. (NYSE:FBP) had its target price upped by Keefe, Bruyette & Woods from $27.00 to $31.00 in a report published on Thursday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

FBP has been the topic of several other reports. Benchmark initiated coverage on First BanCorp. in a report on Wednesday, July 15th. They set a “buy” rating and a $31.00 price objective on the stock. Raymond James Financial raised their price target on shares of First BanCorp. from $27.00 to $32.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. Wells Fargo & Company upped their price target on shares of First BanCorp. from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Piper Sandler raised their price objective on shares of First BanCorp. from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings raised shares of First BanCorp. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First BanCorp. currently has a consensus rating of “Buy” and a consensus target price of $28.75.

First BanCorp. Stock Performance

Shares of FBP stock opened at $28.83 on Thursday. First BanCorp. has a 12 month low of $19.16 and a 12 month high of $28.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $4.46 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.82 and a beta of 0.82. The company’s fifty day moving average price is $25.55 and its two-hundred day moving average price is $23.31.

First BanCorp. (NYSE:FBP) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.08. First BanCorp. had a return on equity of 18.03% and a net margin of 29.24%.The company had revenue of $264.86 million during the quarter, compared to the consensus estimate of $265.31 million. On average, research analysts anticipate that First BanCorp. will post 2.26 earnings per share for the current fiscal year.

First BanCorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Thursday, August 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, August 27th. First BanCorp.’s dividend payout ratio (DPR) is currently 35.56%.

Institutional Investors Weigh In On First BanCorp.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp increased its holdings in shares of First BanCorp. by 64.9% in the first quarter. Fifth Third Bancorp now owns 1,423 shares of the bank’s stock valued at $30,000 after buying an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of First BanCorp. by 151.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,873 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,129 shares during the period. First Horizon Corp purchased a new stake in shares of First BanCorp. in the 4th quarter valued at approximately $40,000. Jones Financial Companies Lllp lifted its position in shares of First BanCorp. by 328.8% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,262 shares in the last quarter. Finally, State of Wyoming acquired a new position in First BanCorp. in the 4th quarter worth approximately $64,000. 97.91% of the stock is currently owned by institutional investors.

Key Stories Impacting First BanCorp.

Here are the key news stories impacting First BanCorp. this week:

• Positive Sentiment: First BanCorp. beat Q2 expectations, reporting $0.62 EPS versus the $0.54 consensus, while earnings-call coverage highlighted robust growth and strategic initiatives. First BanCorp shares edge higher after second-quarter earnings top expectations (NYSE:FBP)
• Positive Sentiment: The company outlined 2026 loan growth of 3% to 5% and said net interest margin could expand 3 to 5 basis points per quarter, which suggests improving profitability. First BanCorp. outlines 3 percent to 5 percent 2026 loan growth, with margin seen expanding 3 to 5 bps per quarter
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on First BanCorp. (FBP) to $31 from $27, signaling improved valuation expectations even though the rating remains market perform. Benzinga article on price target raise
• Neutral Sentiment: The board also declared a quarterly dividend of $0.20 per share, reinforcing capital return but not likely the main driver of today’s trading. First BanCorp stock page

First BanCorp. Company Profile

First BanCorp (NYSE: FBP) is a financial holding company headquartered in San Juan, Puerto Rico. Through its principal banking subsidiary, FirstBank Puerto Rico, the company offers a comprehensive range of banking services including commercial and consumer lending, deposit products, cash management solutions and treasury services. It also provides mortgage origination and servicing, equipment leasing, investment management, and insurance agency services.

In its commercial banking segment, First BanCorp serves small and midsize enterprises as well as large corporate clients, delivering tailored credit facilities, letters of credit, and foreign trade financing.