First BanCorp Gains Strong Buy Rating with $0.57 EPS and 4.2% Revenue Rise
First BanCorp received a Strong Buy rating after an analyst firm upgraded its outlook when shares traded at $23.41. In Q1, EPS rose to $0.57, beating estimates by 9.6%, revenue grew 4.2% to $258.64 million and net income increased to $88.8 million.
1. Analyst Upgrade
An analyst firm raised its rating for First BanCorp from Outperform to Strong Buy on April 27, reflecting confidence in the bank’s strategic positioning and future growth potential when shares stood at $23.41.
2. Q1 Earnings and Revenue Growth
In the first quarter, First BanCorp reported EPS of $0.57, a year-over-year increase from $0.47 and a 9.6% beat on estimates. Quarterly revenue climbed 4.2% to $258.64 million, while net income rose to $88.8 million from $77.1 million a year earlier.
3. Profitability Metrics
First BanCorp achieved a return on average assets of 1.89%, marking its 17th consecutive quarter above 1.5%. The bank’s 21% year-over-year EPS gain underscores improving operational efficiency and asset utilization.