First Bancorp (FBP)

In Q1 2025, First BanCorp reported a net income increase with encouraging margin expansion. In Q2 2025, adjusted earnings and revenue rose, but revenue missed analysts' expectations. In Q3 2025, adjusted EPS surpassed expectations, but revenue fell short, leading to a stock price drop. Wells Fargo maintained an 'Overweight' rating and raised its price target, while Truist Financial initiated coverage with a 'Buy' rating. Keefe, Bruyette & Woods reaffirmed a 'market perform' rating but lowered its price target, and Truist Securities also lowered its price target while maintaining a 'Buy' rating. CEO Aurelio Aleman sold 50,000 shares in August 2025. The Board authorized an additional $200 million share buyback program.

The demand seasonality for First BanCorp's products and services is not explicitly detailed, but general banking activities are influenced by economic cycles and consumer behavior. A slowdown in consumer credit demand, particularly in the auto industry, impacted loan origination in Q3 2025. Higher competition in new deposit flows was noted. The expansion of the manufacturing sector and federal disaster funds in Puerto Rico are expected to support local economies, potentially influencing demand for banking services.

First BanCorp (Puerto Rico) is a publicly traded financial holding company based in San Juan, offering financial services through FirstBank Puerto Rico. It operates in the Financials sector, specifically within the Regional Banks industry. The company provides commercial and corporate banking services, mortgage banking, consumer (retail) banking, treasury and investments, insurance through FirstBank Insurance Agency, auto loan finance via PR Finance Group, and vehicle leasing and daily rental through First Leasing and Rental Corporation. As of September 2024, First BanCorp had $18.9 billion in total assets, $12.5 billion in total loans, $16.3 billion in total deposits, and $1.7 billion in total stockholders' equity.

First BanCorp primarily operates in Puerto Rico with its main offices in San Juan and forty-five full-service banking branches. It also has a presence in the USVI and BVI with twelve branches. In the United States, First BanCorp has a loan agency in Coral Gables, Florida, and branches in Florida following the acquisition of UniBank in 2005.

First BanCorp has maintained a positive brand reputation, being named the top-performing bank in the U.S. among publicly traded institutions with assets between $10 billion and $50 billion by American Banker and Capital Performance Group in August 2025. This recognition was attributed to the company's financial strength, operational efficiency, and sustained growth.

Institutional investors and hedge funds hold 97.91% of First BanCorp's stock. Major institutional owners include iShares Core S&P Small-Cap ETF, American Century Companies, and Vanguard Total Stock Market Index Fund Investor Shares. Picton Mahoney Asset Management and Allspring Global Investments Holdings LLC increased their holdings in Q1, while KLP Kapitalforvaltning AS lifted its holdings in Q2. Royce & Associates LP and GAMMA Investing LLC acquired new positions. CEO Aurelio Aleman owned 1,059,547 shares after selling shares in August 2025.