Feed / FBP

First BanCorp.

FBP

Financial Services · 27.74 -0.1% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

First BanCorp.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Company-0.1% todayVolume comparison unavailable
Market group0 of 1 activeRegional Banks · unavailable
Disclosed network0 of 0 confirmingRelationship data unavailable
What would change this read
  • Net interest margin rose as lower deposit rates and reduced wholesale funding costs supported the spread.
  • A $3.8 million increase in interest expense on time deposits was driven by a $494.2 million increase in the average balance for the period.

Invalidation: The isolated read changes if FBP's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Financial Services · Banks - Regional

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Net interest margin rose as lower deposit rates and reduced wholesale funding costs supported the spread.
  • A $3.8 million increase in interest expense on time deposits was driven by a $494.2 million increase in the average balance for the period.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements263
Verified relationships0
Evidence supporting the case
  • Latest annual revenue changed +6.7% year over year.
  • Net margin changed +2.6 percentage points in the latest annual period.
Evidence challenging the case
  • Credit and interest rates has repeated adverse evidence across 5 filings.
  • Macroeconomic conditions has repeated adverse evidence across 5 filings.
Questions before a position
  • EV/sales is 81% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

27.74
6m+37.1%12m+27.5%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$851.1M+19.6%$1.31-2.9%
2022-12-31$918.4M+7.9%$1.59-9.1%
2023-12-31$929.8M+1.2%$1.71-7.7%
2024-12-31$938.2M+0.9%$1.81-6.7%
2025-12-31$1.0B+6.7%$2.15-2.7%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesnegative · 5 filings
For the six-month period ended June 30, 2025, net cash used in financing activities was $651.7 million, mainly reflecting the repayments of long-term borrowings, consisting of $180.0 million in FHLB advances and the redemption of junior subordinated debenture…
10-Q · Aug 7, 2026
Macroeconomic conditionsmixed · 5 filings
In addition, the ACL for commercial and construction loans decreased by $2.1 million, mainly due to an improvement in the projection of certain macroeconomic variables, net of aforementioned qualitative reserves, partially offset by loan growth.
10-Q · Aug 7, 2026
Energy and commodity pricesnegative · 2 filings
The decrease was mainly related to the ACL for consumer loans and finance leases, which decreased by $3.6 million, driven by lower delinquency levels in the unsecured loan portfolios and improvements in macroeconomic variables in the secured loan portfolios,…
10-Q · Aug 7, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 4.5× · EV/sales 4.7×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.

Price action

How the market is pricing the story

27.74-0.1% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FBP. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FBP. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FBP

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FBP is currently a Leader in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

This group is retained as the last observed read for FBP; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.