FBP Earnings Prediction
The chart below shows how FBP performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FBP sees a -2.67% change in stock price 10 days leading up to the earnings, and a +3.48% change 10 days following the report. On the earnings day itself, the stock moves by -0.72%. This data can give you a slight idea of what to expect for the next quarter's release.
FBP Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
229.48M
7.00%
3.08%
Gross Margin
--
--
--
Operating Margin
41.33%
2.28%
-3.19%
Net Margin
32.99%
-10.98%
-0.39%
EPS
0.46
0.00%
2.22%
No Data Available
FBP Earnings Analysis
First BanCorp Corporation (FBP.N) Earnings Conference Call
Positive
Q4 Net Income Growth: Net income for Q4 reached $76 million, with pretax pre-provision income growing by 5% to $117 million, driven by net interest margin expansion.
Loan Growth Overview: Total loans grew by $330 million or 9.7% annualized in Q4, with growth across all business segments including consumer, commercial, and mortgage.
Deposit Growth Trends: Core deposits increased by 2% sequentially and 4% when including government deposits, indicating strong deposit trends.
Record Low Nonperforming Assets: Nonperforming assets hit a record low of 61 basis points of total assets, reflecting stable credit performance.
Dividend Increase Announcement: The Board approved a 13% increase in the quarterly common stock dividend to $0.18 per share, demonstrating a commitment to returning capital to shareholders.
Negative
Credit Loss Provision Increase: The provision for credit losses increased by $5,700,000 in Q4 compared to the previous quarter, indicating a growing concern over potential loan defaults.
Credit Risk Challenges: Net charge-offs for the quarter were $24,600,000, representing 78 basis points of average loans, which reflects ongoing challenges in managing credit risk, particularly in the consumer segment.
Operating Expenses Increase: Operating expenses rose to $124,500,000 in Q4, a $1,600,000 increase from Q3, exceeding the top range of guidance provided, indicating potential inefficiencies in cost management.
Tangible Book Value Decline: The tangible book value per share decreased to $9.91, primarily due to an $82,000,000 decline in the fair value of the available-for-sale investment portfolio, signaling a deterioration in asset quality.
Credit Loss Allowance Trends: The allowance for credit losses decreased to $244,000,000, but the allowance on consumer loans increased to 3.85% of loans, highlighting ongoing weaknesses in consumer credit despite overall improvements in other segments.
FBP FAQs
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FBP Earning Call Sentiment
Earnings call transcript: First Bancorp Q4 2024 beats EPS forecast
FBP.N
-0.32%Positive
The earnings call showed strong financial performance with an increase in net income, a 13% dividend hike, and a robust share buyback program. Despite some concerns in the Q&A about deposit growth dynamics and credit loss plateau, the overall outlook is positive with strong asset quality and consistent returns. The market cap suggests moderate volatility, thus a positive stock price movement of 2% to 8% is expected over the next two weeks.
