Overview

• Puerto Rico bank's Q4 net income fell from Q3 but rose yr/yr

• Net interest income for Q4 rose to $222.8 mln

• Company's total loans grew 3% in 2025, slightly below expectations

Outlook

• Company sees broadly constructive economic backdrop going into 2026

• First BanCorp remains committed to 2026 targets for sustainable growth

Result Drivers

• NET INTEREST INCOME - Increased due to strategic deployment of cash flows into higher-yielding assets and reduced interest expenses

• NON-INTEREST INCOME - Rise attributed to gains from income tax credits and increased mortgage banking activities

• NON-INTEREST EXPENSES - Rose due to increased employee compensation and business promotion costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for First BanCorp is $24.00, about 14.9% above its January 26 closing price of $20.89

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release: ID:nBw4JnxWBa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)