Analysts on Wall Street project that First BanCorp (FBP) will announce quarterly earnings of $0.52 per share in its forthcoming report, representing an increase of 10.6% year over year. Revenues are projected to reach $258.9 million, increasing 4.3% from the same quarter last year.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific First BanCorp metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Efficiency ratio' will likely reach 49.1%. Compared to the current estimate, the company reported 49.6% in the same quarter of the previous year.
The average prediction of analysts places 'Net Interest Margin' at 4.8%. The estimate compares to the year-ago value of 4.5%.
The collective assessment of analysts points to an estimated 'Total Interest-Earning Assets - Average Balance' of $19.01 billion. The estimate compares to the year-ago value of $19.08 billion.
The consensus estimate for 'Card and processing income' stands at $11.43 million. The estimate is in contrast to the year-ago figure of $11.48 million.
Analysts expect 'Net interest income on a tax-equivalent basis and excluding valuations' to come in at $230.09 million. Compared to the current estimate, the company reported $212.40 million in the same quarter of the previous year.
It is projected by analysts that the 'Service charges and fees on deposit accounts' will reach $9.73 million. Compared to the current estimate, the company reported $9.64 million in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Total non-interest income' should arrive at $35.35 million. The estimate is in contrast to the year-ago figure of $35.73 million.
Analysts forecast 'Mortgage banking activities' to reach $3.51 million. The estimate compares to the year-ago value of $3.18 million.
View all Key Company Metrics for First BanCorp here>>>Over the past month, First BanCorp shares have recorded returns of +12.9% versus the Zacks S&P 500 composite's +6.4% change. Based on its Zacks Rank #4 (Sell), FBP will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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First BanCorp. (FBP): Free Stock Analysis Report
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