Analysts on Wall Street project that First Bancorp (FBP) will announce quarterly earnings of $0.48 per share in its forthcoming report, representing an increase of 6.7% year over year. Revenues are projected to reach $0 million, indicating no change compared to the same quarter last year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance 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.
That said, let's delve into the average estimates of some First Bancorp metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Efficiency ratio' at 50.5%. Compared to the present estimate, the company reported 52.4% in the same quarter last year.
According to the collective judgment of analysts, 'Card and processing income' should come in at $12.05 million. The estimate compares to the year-ago value of $11.77 million.
Analysts expect 'Service charges and fees on deposit accounts' to come in at $9.75 million. The estimate compares to the year-ago value of $9.68 million.
Analysts' assessment points toward 'Total non-interest income' reaching $33.05 million. The estimate compares to the year-ago value of $32.50 million.
The combined assessment of analysts suggests that 'Mortgage banking activities' will likely reach $3.45 million. Compared to the present estimate, the company reported $3.20 million in the same quarter last year.
View all Key Company Metrics for First Bancorp here>>>
Over the past month, shares of First Bancorp have returned -4.2% versus the Zacks S&P 500 composite's +1.2% change. Currently, FBP carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
First BanCorp. (FBP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
